Overview
- Trump said on Truth Social that tariffs on autos, lumber, pharmaceuticals and other reciprocal tariffs will rise from 15% to 25%.
- South Korea’s presidential office said it has received no official notice and convened an interagency meeting as Trade Minister Kim Jung-kwan prepares to visit Washington to meet Commerce Secretary Howard Lutnick.
- The 2025 framework capped many U.S. tariffs at 15% and included a South Korean pledge to invest about $350 billion in the United States, with some tariff cuts previously published in the Federal Register.
- Market and policy analysts flagged likely pressure on South Korean exporters, especially autos and pharmaceuticals, with broader trade and regional risk concerns.
- A pending Supreme Court case on presidential power to impose country-specific tariffs could affect the scope and durability of any unilateral increase.