US PresidentDonald Trumpsaid on Monday that he would raisetariffson South Korean goods including autos, lumber and pharmaceuticals, taking aim at the country for not living up to an earlier trade pact struck with Washington.
The increase would bring tariff levels from 15 percent to 25 percent.
South Koreas legislature is not living up to its deal with the United States, Trump wrote on his Truth Social platform.
He added that he was increasing tariff rates because the Korean legislature hasnt enacted our historic trade agreement, which is their prerogative.
South Koreas presidential office said it had not been informed about the tariff hike plans in advance.
It said Trade Minister Kim Jung-kwan, currently inCanada, would head to Washington for talks on the issue with US Commerce Secretary Howard Lutnick.
Trumps apparent about-face comes months after Washington and Seoul struck a trade and security deal, capping a period of tense negotiations.
The agreement was finalised after Trump met his South Korean counterpartLee Jae Myungin October and included investment promises by South Korea alongside tariff cuts by the United States.
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Under the pact, Washington would maintain levies of up to 15 percent on South Korean goods including vehicles, car parts and pharmaceuticals.
Crucially, the deals terms brought US tariffs on South Korean cars down from a 25 percent level.
Trumps latest threat, if enacted, would reverse that.
The auto industry accounts for 27 percent of South Koreas exports to theUnited States, which takes in nearly half of the countrys car exports.
A reversal to a higher tariff level could also put South Korean exports at a disadvantage compared with economies such asJapanand theEuropean Union, which have both struck deals for a 15 percent US tariff.
The Trump administration has yet to issue formal notices to enact the changes.
The US presidents threat targeting South Korea is his latest against key trading partners in recent days.
Over the weekend, Trump warned Canada that if it concludes a trade deal withChina, he would impose a 100 percent tariff on all goods coming across the border.
Earlier in January, Trump alsothreatened to slap tariffson multiple European nations until his purchase ofGreenlandis achieved. He has since backed off the threat.
(FRANCE 24 with AFP)
Originally published on France24
