On his page on Truth Social, Donald Trump accused South Korea of not complying with the trade agreement reached last year. He announced that the current 15% duty rates on a wide range of products, including automobiles, wood materials, and pharmaceuticals, will be increased by 25%.
Trump emphasized that Seoul is slowing down the approval process of the agreement, while the US has taken a faster step towards reducing its tariffs within the framework of the agreed agreement. Against this backdrop, the decision to increase duty rates was explained by the non-fulfillment of contractual obligations.
The South Korean side stated that it had not received an official notification of this decision and expressed its readiness to discuss the matter with Washington immediately. It is noted that the parties reached an agreement last October, which provides for South Korea's investment of $350 billion in the US economy, with a portion of the funds directed to the shipbuilding sector; the document is currently under consideration by the National Assembly of South Korea and, according to local media, may be approved in February.
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