TARIFFS: Trump To Raise South Korean Tariffs To 25%, From 15%
US President Trump has posted via Truth Social that the US will raise tariffs on South Korea from 15% to 25%. Trump notes this covers Autos, Lumber, pharma and all other reciprocal tariffs. Trump states that the failure of the South Korean legislature to approve the agreed trade deal from July 30th last year is the reason for today's announcement. The full post is outlined below. There is no mention of timeline around when the new tariff rates will apply, or if/how chip/semiconductor exports to the US may be impacted.
"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.
South Korea's Legislature is not living up to its Deal with the United States. President Lee and I reached a Great Deal for both Countries on July 30, 2025, and we reaffirmed these terms while I was in Korea on October 29, 2025. Why hasn't the Korean Legislature approved it?
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% to 25%. Thank you for your attention to this matter!"
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