On Jan. 26, U.S. President Donald Trump announced an increase in import tariffs from 15% to 25% on South Korean products, including cars, lumber and pharmaceuticals, in a post on Truth Social.
In the post, the president said the move was due to delays by the country’s legislative authorities in enacting the agreement reached on July 30, 2025, under which South Korea undertook to invest $350 billion in the U.S. in return for cutting tariffs on its exports.
According to Yonhap, presidential office called for a joint agency meeting to review response options and prompted Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo to travel to the U.S. for negotiations with Secretary of Commerce Howard Lutnick and U.S. Trade Representative Jamieson Greer.
Previously, in September 2025, Trump cut tariffs on Japanese car imports from 27.5% to 15%. If a similar tariff hike is imposed on South Korea, the country’s carmakers — which rely heavily on exports to the U.S. — would face increased financial risk.
