The United States accuses South Korea of violating trade agreements reached last year. Accordingly, foreign media reports that President Donald Trump has taken steps to increase tariffs on goods imported from the country to the United States to 25%.
The President has announced on his social media account that the 15% tariff on many major goods including automobiles, pharmaceuticals and timber has been increased to 25% with immediate effect.
This decision was taken because South Korea agreed to invest $350 billion in the United States last October, but it did not materialize as expected.
It is said that the Seoul legislature has not properly fulfilled the terms of the agreement.
South Korea says that it has not been officially informed of the tax increase.