U.S. President Trump posted on his social media platform on January 26, Eastern Time, stating that due to the South Korean National Assembly's failure to pass the U.S.-South Korea trade agreement and formally enact it into law, the United States will increase the tariff rates on South Korean exports of automobiles, timber, medicines, and other equivalent tariff items from 15% to 25%.
"The South Korean National Assembly has not fulfilled its agreement with the United States," Trump said, "the United States has quickly taken action on every agreement, lowering our tariffs according to the agreed transaction. We certainly also expect our trade partners to do the same."
The United States and South Korea announced a trade agreement in July last year, and Trump and South Korean President Yoon Suk-yeol further finalized the details during their meeting in Busan at the end of October last year. The Blue House has not yet responded to comments.
The White House has also not yet issued an official notice. If the new tariffs are implemented, it could have a wide impact on major South Korean companies exporting to the United States.
Original article: toutiao.com/article/1855443011860492/
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