Trump says tariffs on South Korean autos, pharma, to rise to 25% over trade deal approval delay
Trump says tariffs on South Korean autos, pharma, to rise to 25% over trade deal approval delay
www.cnbc.com
Hyundai shares fall after Trump says tariffs on South Korean autos, pharma to rise to 25%
South Korean-based automaker Hyundai Motor is the largest importer of new vehicles from that country into the United States.
President Donald Trump said Monday that he was increasing tariffs on imported autos, pharmaceuticals, and lumber from South Korea from 15% to 25% because of a delay in that country’s legislature approving a trade deal with the United States reached last summer.
“South Korea’s Legislature is not living up to its Deal with the United States,” Trump said in a Truth Social post.