“The US raised tariffs on South Korean goods to 25%. The increase affected cars, electronics, and pharmaceuticals.”, — write: www.pravda.com.ua
Donald Trump. Photo: Getty Images Source: Trump in Truth Social, CNN
Trump’s direct speech: “Our trade agreements are very important to America. In each of these agreements, we have moved quickly to reduce tariffs in accordance with the agreement. We, of course, expect our trading partners to do the same.
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The South Korean parliament is not fulfilling its agreement with the United States. President Lee and I reached an excellent agreement for both countries on July 30, 2025, and we confirmed these terms during my visit to Korea on October 29, 2025. Why hasn’t the Korean parliament approved this yet?”
Details: In particular, South Korean cars, wood, pharmaceutical products and any other mutual trade items fell under the new tariffs.
According to CNN, South Korea is one of the main suppliers of foreign goods to the United States. In 2024, the country supplied the US with goods worth 132 billion dollars (data from the US Department of Commerce).
Most of the US imports from South Korea are automobiles, auto parts, semiconductors and electronics, and the current tariff hike could make these goods more expensive.
Trump did not say exactly when the new tariffs would take effect.
Prehistory:
- On January 24, Trump announced that he would introduce 100 percent customs tariff on all Canadian imports for the trade agreement with China.
- In addition, Trump announced the implementation from February 1 duties against a number of countrieswho disagree with his position on Greenland.
- Amazon CEO Andy Jesse is convinced that Trump’s tariffs have begun to rise US prices.
- Contrary to the rhetoric of the US government, the cost of US import duties does not fall on the shoulders of importers – 96 percent of the customs burden is borne importers and consumers in the USA.