Trump says he's raising tariffs on South Korea to 25% [View all]
Source: CBS News
Updated on: January 26, 2026 / 6:34 PM EST
President Trump on Monday said he is raising tariffs on South Korea because the nation has not yet approved a trade deal with the U.S. that the two countries agreed to last year. Mr. Trump said in a social media post that the U.S. will increase its tariff on imports from South Korea from 15% to 25% and also hike levies on the country's automobiles, lumber and pharmaceutical goods.
"South Korea's Legislature is not living up to its Deal with the United States. 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. Why hasn't the Korean Legislature approved it?" Mr. Trump said in announcing the stepped-up duties.
The two countries reached a deal on trade and security issues after Mr. Trump met his South Korean President Lee Jae-myung in Seoul last year. Under the agreement, the U.S. cut its tariffs on South Korean vehicles, car parts, pharmaceuticals and other products from 25% to 15%.
The pact also called for South Korea to invest $350 billion in several key U.S. sectors, including semiconductors, shipbuiling and biotech.
Read more: https://www.cbsnews.com/news/trump-south-korea-tariffs-25/
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