United States President Donald Trump has ramped up trade tensions with South Korea by imposing 25 per cent tariffs on imports such as automobiles, timber, pharmaceuticals and “all other Reciprocal TARIFFS.” He accused Seoul of stalling on a key trade pact agreed last October.
In a social media post, Trump wrote, “South Korean lawmakers have been slow to approve the deal while we have acted swiftly to reduce our TARIFFS in line with the Transaction agreed to.” The duties rise from 15 per cent on these goods.
Seoul said it received no prior notice and seeks urgent talks with Washington. Industry Minister Kim Jung-kwan will cut short his Canada trip to meet U.S. Commerce Secretary Howard Lutnick.
South Korean exporter shares fell on Tuesday, Hyundai dropping 2.5 per cent alongside pharmaceuticals and timber stocks.
Under the October 2025 deal, South Korea pledged $350 billion in U.S. investments including shipbuilding. The U.S. promised tariff cuts post-approval, tabled in parliament on 26 November with a likely February vote. U.S. importers foot the new levies.
Trump often deploys tariffs in his second term’s foreign policy. He recently threatened Canada with 100 per cent duties over China ties, prompting Beijing to deny undercutting others. PM Mark Carney insisted Canada has “never” eyed a free trade deal with China and informed Washington accordingly.
Trump also targeted eight nations including the UK over Greenland resistance before backing off amid “future deal” hopes, straining NATO ties.