Trump Vows to Raise Tariffs to 25% on South Korean Goods

President Donald Trump threatened to hike tariffs on goods imported from South Korea to 25%, citing what he said was the failure of the country’s legislature to codify the trade deal the two nations reached last year.

Trump in a social media post on Monday said the new rate would apply to autos, lumber, pharmaceutical products and “all other Reciprocal TARIFFS.” Under the existing agreement, the president set a 15% levy on South Korean exports.