Trump moves to increase some South Korean tariffs to 25%

US President Donald Trump announced a decision on Monday to raise tariffs on some South Korean imports over the failure by South Korea's legislators to enact a bilateral trade deal with the United States, Report informs via TASS.

"Because the [South] 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%," the US leader wrote on his Truth Social media platform. He accused South Korea's National Assembly of "not living up to its deal with the United States."

"Our trade deals are very important to America. In each of these deals, we have acted swiftly to reduce our Tariffs in line with the transaction agreed to. We, of course, expect our trading partners to do the same," Trump emphasized.