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U.S. President Donald Trump claimed that the Korean Nationwide Meeting has not proceeded with the authorized procedures essential to implement commerce agreements between Korea and the U.S., and introduced he would increase tariffs on Korean merchandise again to pre-trade settlement ranges.
Trump said in a publish on social networking service (SNS) Reality Social on Jan.26 (native time), “South Korea’s Legislature just isn’t dwelling as much as its Cope with the US,” including “I’m hereby rising South Korean TARIFFS on Autos, Lumber, Pharma and all different Reciprocal TARIFFS, from 15% to 25%.”
President Trump wrote, “President Lee and I reached a Nice Deal for each Nations on July 30, 2025, and we reaffirmed these phrases whereas I used to be in Korea on October 29, 2025. Why hasn’t the Korean Legislature accredited it?”
The Korean Nationwide Meeting approval talked about by Trump seems to confer with the “Particular Act for Korea-U.S. Strategic Funding Administration” (Particular Act on Funding in U.S.) that have to be handed by the Nationwide Meeting for Korea to implement investments promised to the US.
The 2 international locations introduced a joint reality sheet on Nov. 13 final yr, summarizing the agreements between the leaders in safety and commerce fields following the Korea-U.S. summit held in Gyeongju on Oct. 29 final yr.
The actual fact sheet contained provisions that in alternate for Korea making $350 billion value of funding within the U.S., the US would scale back tariffs on Korean vehicles and different merchandise, and help or approve Korea’s uranium enrichment and spent nuclear gas reprocessing and introduction of nuclear-powered submarines.
In relation to this, the 2 international locations agreed within the “Korea-U.S. Memorandum of Understanding (MOU) on Strategic Funding” signed on Nov. 14 final yr to retroactively apply tariff discount measures from Nov. 1 when the invoice for MOU implementation is submitted to the Korean Nationwide Meeting.
Subsequently, the ruling Democratic Celebration of Korea launched the Particular Act on Funding in U.S. to the Nationwide Meeting on Nov. 26 final yr, and the US additionally retroactively lowered tariffs on Korean vehicles to fifteen% with publication within the Federal Register on Dec. 4 final yr.
Though Trump talked about delays in Nationwide Meeting procedures, it’s unsure whether or not that’s the sole motive for the tariff enhance.
The USA has expressed dissatisfaction with amendments to the Info and Communications Community Act enacted by the Korean Nationwide Meeting after the commerce settlement and on-line platform rules launched within the Nationwide Meeting, and on Jan. 23, Vice President J.D. Vance additionally requested Prime Minister Kim Min-seok, who was visiting the US, about Coupang’s private data leak incident.
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