US President Donald Trump has announced a sharp increase in tariffs on South Korean automobiles, lumber, pharmaceuticals and other goods, raising rates from 15% to 25% under the reciprocal tariff framework.
In a social media statement, Trump said the decision reflects Washington’s position that trade agreements must be fully and symmetrically implemented, stressing that the US has already reduced tariffs in line with its commitments.
Trade deal stalled in South Korea’s legislature
Trump said the tariff hike was triggered by the failure of South Korea’s National Assembly to ratify a bilateral trade agreement concluded with President Lee Jae Myung on July 30, 2025, and reaffirmed during Trump’s visit to Seoul on October 29, 2025.
Under the agreement, reciprocal tariffs on South Korean imports had been cut from 25% to 15%, while South Korea committed to $350 billion in investments in the US, with projects to be selected by the US administration.
Seoul seeks clarification
Following the announcement, South Korea’s presidential office said it had not received formal notification from Washington and would convene an interagency meeting to assess the impact.
Trade, Industry and Energy Minister Kim Jung-kwan is expected to travel to the US soon for talks with US Commerce Secretary Howard Lutnick, as Seoul seeks to reaffirm its commitment to the agreement and prevent further escalation.
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