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Trump says he will impose new tariffs on South Korea, sending shares in carmakers tumbling

US president says tariffs on automobiles, lumber and pharmaceuticals will rise to 25%, accusing Seoul of not living up to a trade deal struck last year

Donald Trump has said he is raising tariffs on South Korean goods including automobiles, lumber and pharmaceuticals, accusing the country of not living up to a trade deal struck last year and sending shares in Korean carmakers tumbling.

In a post on social media, the US president said the tariffs paid on South Korean exports into America would rise from 15% to 25% because the “Korean Legislature hasn’t enacted our Historic Trade Agreement, which is their prerogative”.

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© Photograph: Lee Jin-man/AP

© Photograph: Lee Jin-man/AP

© Photograph: Lee Jin-man/AP

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Trump Says He Will Raise Tariffs on South Korea to 25%

President Trump threatened to increase tariffs on South Korean exports, including cars, citing the country’s slow ratification of a trade deal.

© Eric Lee for The New York Times

President Trump on Monday said he would raise tariffs on South Korea.
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