Trump to raise tariffs on South Korean imports to 25% after trade deal stalls

President Trump said he is increasing tariffs on South Korean autos, lumber, pharmaceuticals and other imports after South Korea’s legislature has not enacted a trade agreement reached with Seoul last year.

In a post published Monday, Trump said he and South Korean President Lee Jae-myung reached a deal on July 30, 2025, and reaffirmed its terms during a meeting in South Korea on Oct. 29, 2025, but said the agreement has not been enacted by South Korea’s National Assembly.

“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%,” Trump wrote.

“We have acted swiftly to reduce our TARIFFS in line with the Transaction agreed to,” Trump added. “We, of course, expect our Trading Partners to do the same.”

Under the framework agreement announced in late 2025, the two sides agreed to cap reciprocal tariffs at 15% in exchange for $350 billion in South Korean investment in the U.S. economy.

South Korea’s presidential office said Tuesday in a statement that it had not received a formal explanation from Washington regarding Trump’s tariff announcement.

According to Yonhap, citing the statement, South Korea’s trade minister is expected to travel to the United States in the coming days to discuss the issue with U.S. Commerce Secretary Howard Lutnick.