Minister Sushanta Chowdhury Highlights People-Centric Measures in Union Budget 2026-27
Trump Raises Tariffs on South Korean Imports to 25%
Jan 27, 2026US President Donald Trump has announced an increase in tariffs on South Korean goods from 15 per cent to 25 per cent, citing the South Korean legislature’s failure to enact a trade agreement.
Trump stated on social media that the higher tariffs would affect automobiles, lumber, pharmaceuticals, and other products, though it is not yet clear when the revised rates will take effect.
South Korea is one of the United States’ largest sources of imports, sending $132 billion worth of goods—including cars, semiconductors, and electronics—to the US in 2024. The move reverses a July trade agreement under which tariffs were set at 15 per cent, and South Korea had pledged $350 billion in US-controlled investments.
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