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.
Now reading
His wife threw a scandal, but he still went to the trenches. The story of a Belarusian who ended up at war due to debts and fear of losing his home 1414
His wife threw a scandal, but he still went to the trenches. The story of a Belarusian who ended up at war due to debts and fear of losing his home 14
"They say Smolensk is not Belarus, and then I find my husband's diary." Belarusians and Russians discuss a Belarusian-language diary in a Russian school 4040
"They say Smolensk is not Belarus, and then I find my husband's diary." Belarusians and Russians discuss a Belarusian-language diary in a Russian school 40
Ukraine for the first time responded to Russian attacks on "Nova Poshta" warehouses with symmetrical strikes on "Wildberries" hubs. The one near Moscow burned to the ground 1111
Comments
А ведь предупреждали же, что это за рыжая голова....