The decision comes as South Korea remains one of the United States' leading sources of imported goods, exporting USD 132 billion worth of products to the US in 2024, according to Commerce Department data. US President Donald Trump has announced he's hiking tariffs on South Korean imports to 25%, claiming Seoul isn't holding up its end of a trade deal from last year. Trump hikes South Korean tariffsAnnouncing the move on Truth Social, Trump said, "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%." As part of that agreement, Trump also said South Korea had agreed to "give to the United States 350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President." What did South Korea say on the tariff hike?

Source: dna January 27, 2026 01:44 UTC