The agreement included reduced tariffs for both countries, capping US import duties at 15 per cent. That marked a rollback from the 25-per cent tariff rate announced on South Korea’s ‘Liberation Day’ in April last year.
President Donald Trump announced raising tariffs on South Korean imports to 25 per cent, accusing Seoul of ‘not living up’ to a trade pact reached in 2025.
He said South Korea’s legislature has not approved the deal agreed to on July 30, 2025, questioning why it has not been ratified.
The US imports $150 billion worth of goods every year from South Korea.
Trump said South Korea’s legislature has not approved the trade deal he and President Lee Je Myung agreed to on July 30, 2025, and reaffirmed during his visit on October 29, 2025, questioning why it has not been ratified.
“Because the Korean Legislature hasn’t enacted our Historic Trade Agreement, which is their prerogative, I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS, from 15 per cent to 25 per cent,” Trump said on a post on Truth Social.
“Our Trade Deals are very important to America. In each of these Deals, we have acted swiftly to reduce our TARIFFS in line with the Transaction agreed to. We, of course, expect our Trading Partners to do the same,” he added.
The United States imports nearly $150 billion worth of goods every year from South Korea.
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