Trade Tensions Escalate: Trump Targets South Korean Imports

U.S. President Donald Trump announced plans to increase import tariffs on South Korean goods to 25%. The surprise move, which includes tariffs on autos, is a response to South Korea's parliament not fulfilling a previous agreement. South Korean officials are seeking solutions to mitigate potential economic impacts.

In a surprising move, U.S. President Donald Trump declared an increase in import tariffs on South Korean products, including autos, to 25%. The announcement, made via social media, was reportedly due to South Korea's parliament failing to uphold parts of a bilateral trade agreement, as reported by Yonhap News.

Trump's decision has caught South Korean officials off guard, leaving them scrambling for a diplomatic solution to the sudden hike. "We'll work something out with South Korea," Trump assured reporters at the White House before his departure to Iowa, highlighting a willingness for dialogue.

The potential economic repercussions pose a significant challenge for South Korea, an export-driven economy that had committed to substantial investments in the U.S. as part of tariff reduction agreements. The latest development signals a brewing trade tension that both nations must address promptly.

(With inputs from agencies.)