Trump Increases Tariffs on South Korean Goods Amid Trade Dispute

President Donald Trump announces a rise in tariffs on South Korean goods, citing the country's national assembly's delay in approving the trade framework. Import taxes on autos, lumber, and pharmaceutical drugs will increase, with rates on other goods jumping from 15% to 25%.

In a decisive move, President Donald Trump has declared an increase in tariffs on South Korean goods, expressing frustration over the country's national assembly's delay in approving the trade framework ratified in October.

Trump took to social media to announce that import taxes on autos, lumber, and pharmaceutical drugs from South Korea will be raised significantly.

The tariff rate on other goods is set to jump from 15% to 25% as part of the new trade measures.

(With inputs from agencies.)