Trump says he will raise tariffs on South Korea to 25% | Business and Economic News


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The US president said he would raise tariffs by 15% due to Seoul’s failure to ratify the trade deal.

U.S. President Donald Trump has threatened to raise tariffs on South Korean exports after the country failed to ratify a trade deal with Washington quickly enough.

Trump said in a post on Truth Social on Monday that he would raise tariffs from 15% to 25% as South Korea’s legislature failed to ratify a trade deal struck between Washington and Seoul earlier this year.

“The South Korean legislature has not lived up to its agreement with the United States,” Trump said.

“Why didn’t the South Korean Legislature approve it?” Trump added.

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