Trump Threatens to Raise Tariffs on South Korean Goods Amid Trade Deal Dispute
Summary
US President Donald Trump threatens to raise tariffs on South Korean goods from 15% to 25% citing South Korea's legislature failure to implement their bilateral trade agreement.
Key Points
- US President Donald Trump threatens to increase customs duties on South Korean goods from 15 percent to 25 percent.
- Trump accuses South Korean legislature of failing to implement the bilateral trade agreement with the US.
- The original agreement mandated a 15 percent flat customs duty on South Korean imports to the US.
- South Korea had agreed to invest 350 billion US dollars in America as per the deal.
- The tariff increase would affect South Korean vehicles, wood, medicine, and other products.
