The President of the United States, Donald Trump, said this Monday (26) that he would increase tariffs on South Korean imports related to automobiles, wood and pharmaceutical products to 25%, accusing the allied country’s Legislature of “not complying” with the trade agreement with Washington.
“The South Korean Legislature is not complying with the agreement reached with the United States,” Trump wrote on social media.
“Because the Korean Legislature has not enacted our Historic Trade Agreement, which is their prerogative, I am increasing South Korean tariffs on automobiles, lumber, pharmaceuticals and all other reciprocal tariffs from 15% to 25%.”
In July, Trump had announced an agreement in which he would reduce . In return, South Korea should invest US$350 billion in the US in projects selected by the US president and purchase US$100 billion in liquefied natural gas and other energy products.
Seoul assessed that it would plunge into a financial crisis if it met US demands without safeguards.
Still, in October, before visiting the country, Trump insisted that . During the agenda, the president stated that .
With information from Reuters
