The U.S. announced plans to hike tariffs on select South Korean goods from 15% to 25% this week, sparking fresh trade tensions. President Donald Trump accused Seoul of failing to enact a bilateral trade agreement, declaring the move via social media: "I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS." 🚨
South Korea’s presidential office confirmed Tuesday it had not received official notification from Washington but vowed urgent action. Trade Minister Park Tae-sung will lead a delegation to the U.S. for talks, while Seoul convenes an interagency crisis meeting. 📉
The tariff escalation—targeting key industries like automotive and pharmaceuticals—could ripple through global supply chains. Analysts warn of potential price hikes for consumers and strained U.S.-ROK economic ties. 🌏💼
