'Not living ‌up to its deal with US': Trump hikes tariffs on South Korea to 25%

The United State's President Donald Trump on Monday said he was increasing ​tariffs on South Korean imports into the US related to autos, lumber and pharmaceuticals to 25%, while accusing ‌the ally's legislature of "not living up" to its trade deal with ⁠Washington.

"South Korea's Legislature is not living ‌up to its Deal with the United States," Trump wrote on social media.

"Because the Korean Legislature hasn't enacted our Historic Trade Agreement, which is their prerogative, I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS, from 15% to 25%," he added.

It was not immediately clear when the tariff hike would ​take effect.

South Korea had been working to implement a deal announced with Washington ‌last year that ‌lowered US tariffs against many of its exports to 15%.

But earlier this month, South Korea's finance minister said the country's planned investment of $350 billion in ⁠strategic US sectors under the trade deal was unlikely to kick off in the first half of 2026, citing the weak won currency.

The prospect of large currency outflows has caused headaches for authorities in Seoul at a time when the won has slumped to ⁠trade at levels unseen since the global financial crisis from 2007 to ⁠2009.

With Reuters inputs