President Donald Trump announced that he is increasing tariffs on goods imported from South Korea by 10 percent to 25, because the Asian ally failed to live up to a trade agreement between the two sides last year.
"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 said in a statement posted on Truth Social Monday.
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by Joji Xavier
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