United States President Donald Trump said he would increase tariffs on autos, pharmaceuticals and lumber from South Korea from 15% to 25%.
In a post to Truth Social, Trump said the tariff jump was caused by a delay in South Korea’s legislature approving a trade deal with the United States reached last summer.
“South Korea's Legislature is not living up to its Deal with the United States,” Trump said.
“President Lee and I reached a Great Deal for both Countries on July 30, 2025, and we reaffirmed these terms while I was in Korea on October 29, 2025.
“Because the Korean Legislature hasn't enacted our Historic Trade Agreement, which is their prerogative, I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS, from 15% to 25%.”
According to Reuters, South Korea’s presidential Blue House said the U.S. government had not officially notified the country of the tariff hike.
Reuters also reported that South Korea’s presidential adviser would hold a meeting with related ministries to discuss measures related to the increase.
In the trade deal announced in July, Trump said the U.S. would impose blanket tariffs of 15% on tariffs from South Korea.
Trump also said at the same time that South Korea had agreed to “give to the United States US$350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President.”
South Korea is one of the biggest exporters of goods to the U.S.
According to the Office of the U.S. Trade Representative, the U.S. imported US$131.6 billion from South Korea in 2024.
This coincides with the Supreme Court making its decision on the legality of Trump’s unilaterally imposed tariffs without the authorisation of Congress, which was first questioned in November.
Following Trump’s announcement, shares for South Korean automaker and the largest importer of new vehicles to the U.S., Hyundai, fell more than 4%.
