Trump Increases South Korea Tariffs to 25% Following Failure to Ratify Trade Agreement

Trump announced a tariff increase on South Korean goods from 15% to 25% after the National Assembly failed to ratify a 2025 trade agreement.The move targets automobiles, lumber, and pharmaceuticals, threatening a deal that included a $350 billion investment commitment into USA technology and shipbuilding sectors.South Korean Trade Minister Kim Jung-kwan plans to meet USA Commerce Secretary Howard Lutnick as automotive stocks in Seoul experience sharp declines.