U.S. President Donald Trump announced an increase in import tariffs on goods from South Korea from 15% to 25%. Trump accused lawmakers in Seoul of not yet ratifying the "historic deal" reached between the leaders of the two countries in the summer of 2025.
Key South Korean exports were hit: automobiles, pharmaceuticals, electronics. Trump insists that Washington fulfilled its part of the obligations by lowering tariffs earlier, and now expects reciprocity. "Korea's legislative body is not honoring its deal with the United States. Why haven't they approved it yet?" — the U.S. president wrote on his social network Truth Social.
Market reaction was immediate: shares of automotive giant Hyundai plummeted by more than 2.2%, and the main index of the Korean stock exchange KOSPI lost about 1%. The South Korean government has already convened an emergency meeting. The country's trade minister is urgently flying to Washington to try to settle the conflict and confirm Seoul's readiness to fulfill the agreements.
However, the situation remains uncertain, as Seoul itself insists that the agreement was a memorandum and did not require separate parliamentary approval.
Trump's statement came after a series of recent threats to impose tariffs, including 100% tariffs on Canadian goods and an additional 10% levy for countries opposing his ambitions regarding Greenland.
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А ведь предупреждали же, что это за рыжая голова....