President Trump on Monday stated he was increasing tariffs on goods from South Korea, accutilizing the countest of “not living up to its Deal” with the US. Tariffs on goods from South Korea will jump back to 25%, from 15%.
“Becaapply 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%,” he wrote on Truth Social.
Trump’s latest tariff salvo at a US ally came days after he threatened to impose 100% tariffs on Canada over that nation’s trade deal with China, even though he had previously called the agreement “a good thing.”
In a social media post, Trump stated of Canadian Prime Minster Mark Carney that if he “considers he is going to create Canada a ‘Drop Off Port’ for China to sfinish goods and products into the United States, he is sorely mistaken.”
Canada has nereceivediated a deal to lower tariffs on Chinese electric vehicles, in return for lower import taxes on Canadian farm products. But the Trump administration claims the agreement may run afoul the United States-Mexico-Canada free trade agreement (USMCA) that is scheduled to be renereceivediated this summer.
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