Trump Slams South Korea with Tariff Hike: 15% to 25% on Key Imports

• Donald Trump announced a tariff increase from 15% to 25% on various products imported from South Korea.
• The hike targets goods like cars, lumber, and pharmaceuticals, citing South Korea's alleged failure to honor a previous trade agreement.
• This move reverses a recent agreement where the US had cut tariffs on South Korean goods to a maximum of 15%.
• The automobile sector, accounting for 27% of South Korea's exports to the US, will be significantly impacted.
• The tariff increase could weaken South Korea's competitive edge against Japan and the EU, who maintain 15% tariffs with the US.

Why It Matters: Trump increased tariffs on South Korean imports to 25%, alleging non-compliance with a trade agreement.