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US president says tariffs on automobiles, lumber and pharmaceuticals will rise to 25%, accusing Seoul of not living up to a trade deal struck last year
Donald Trump has said he is raising tariffs on South Korean goods including automobiles, lumber and pharmaceuticals, accusing the country of not living up to a trade deal struck last year and briefly sending shares in Korean carmakers tumbling.
In a post on social media, the US president said the tariffs paid on South Korean exports into America would rise from 15% to 25% because the “Korean Legislature hasn’t enacted our Historic Trade Agreement, which is their prerogative”.
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