Trump Raises Tariffs on South Korean Goods

US President Donald Trump has announced that tariffs on goods imported from South Korea will be increased from 15 per cent to 25 per cent. He said the decision was taken because the South Korean legislature did not pass a trade agreement with the United States.

In a post on social media, Trump said the higher tariffs would apply to several products, including automobiles, timber, pharmaceutical items, and other goods. However, it is still not clear whether the new tariff rates have already come into effect.

South Korea is one of the biggest exporters to the US. In 2024, it sent goods worth about 132 billion US dollars to America. These include cars, semiconductors, and electronic products. With higher tariffs, these items may become more expensive in the US market.

The move also reverses an earlier trade deal announced in July, which had set tariffs at 15 per cent. At that time, Trump had said South Korea would invest 350 billion US dollars in projects controlled by the US.

With the new decision, trade relations between the two countries may face fresh challenges, and businesses on both sides could be affected.