US EditionTrump Plans to Raise Tariffs on South Korean Goods From 15% to 25%, Citing Impatience with Deal's OK
9 Articles
9 Articles
Trump plans to raise tariffs on South Korean goods from 15% to 25%, citing impatience with deal's OK
President Trump says he will increase tariffs on South Korean products from 15% to 25% because he is tired of waiting for the Asian country's legislature to approve its bilateral trade deal with the U.S.
U.S. President Donald Trump said on the 27th (local time) regarding the plan to increase tariffs on Korean products he announced the previous day, "We will find a solution together with South Korea." Before leaving the White House for Iowa on that day, President Trump met with reporters.
Donald Trump is increasing tariffs on South Korea. The US president is citing a bilateral trade agreement signed with the country last year as the reason for the decision, which, according to Washington, Seoul is not fulfilling because it has not yet been ratified at the legislative level. “Our trade agreements are very important to America. In each of these agreements, we have quickly reduced tariffs, which was provided for by the terms of the …
Trump’s Tariff Hike Sparks Global Market Turmoil
Donald Trump’s announcement to increase tariffs on South Korean goods from 15% to 25% has sent ripples through global markets, raising concerns about the potential impact on trade and economic stability. The tariffs, set to apply to autos, lumber, pharmaceutical drugs, and other reciprocal tariffs, come as South Korea’s legislature has yet to approve the trade framework agreed upon last year. Source
South Korea is rushing to implement measures to reassure the U.S., after President Trump announced he would increase tariffs on South Korean goods from 15% to 25%.
U.S. President Donald Trump announced Monday that he plans to raise tariffs to South Korea by 25%, accusing Seoul of not complying with the trade agreement signed with Washington last year. The increase would apply to all goods included in its "reciprocal" tariffs, including cars, timber and pharmaceuticals. Trump made the statement in Truth Social, writing that the U.S. expects trading partners to match the rapid US tariff cuts, and stated that…
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