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January 26, 2026
Trump raises South Korea tariffs over stalled trade deal
HIGHLIGHTS
Tariffs boosted to 25% from 15%
Trade deal includes $350 bil South Korean investments
South Korea is fourth-largest US steel supplier
US President Donald Trump is increasing tariffs on South Korea to 25% from 15%, blaming that country's National Assembly for not approving a July trade deal between the two countries, Trump said Jan. 26.
"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%," Trump wrote on his Truth Social social media platform.
The US and South Korea reached a trade deal on July 30, 2025, that set a 15% tariff on all imports to the US. South Korea initially faced a 25% tariff when Trump first announced country-specific tariff rates on April 2.
The deal includes $350 billion that South Korea would invest in the US and a $100 billion purchase of LNG and other energy products by South Korea.
While announcing the deal in July, Trump said South Korea would be open to trade with the US and accept American imports of cars, trucks and agriculture.
South Korea is the fourth-largest source of steel to the US, supplying 2.55 million metric tons in 2024, according to data from the US Department of Commerce. Country-specific rates have not been added to the 50% sectoral tariffs Trump already imposed on steel, aluminum and copper.
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