President Donald Trump threatened to hike tariffs on goods imported from South Korea to 25%, citing what he said was the failure of the country’s legislature to codify the trade deal the two nations reached last year.
Trump in a social media post on Monday said the new rate would apply to autos, lumber, pharmaceutical products and “all other Reciprocal TARIFFS.” Under the existing agreement, the president set a 15% levy on South Korean exports.
“South Korea’s Legislature is not living up to its Deal with the United States,” Trump said in his post. “In each of these Deals, we ...
