Trump raises US tariffs on South Korea imports to 25%

US President Donald Trump has announced he is raising tariffs on South Korean imports to 25% after accusing Seoul of “not living up” to a trade deal reached last year.

In a post on social media, Trump said he would increase levies on South Korea from 15% across a range of products including automobiles, lumber, pharmaceuticals and “all other Reciprocal TARIFFS”.

The two countries reached a deal last October, which included a pledge from South Korea to invest $350bn (£256bn) in the US, some of which would go to shipbuilding.

Trump said South Korean lawmakers have been slow to approve the deal while “we have acted swiftly to reduce our TARIFFS in line with the Transaction agreed to”.

Tariffs are paid by companies who import products. In this case, US firms will pay a 25% tax on goods they buy from South Korea.

Trump has frequently used tariffs as leverage to enact foreign policy during his second term in the White House.

On Saturday, he threatened Canada with a 100% tariff if it struck a trade deal with China.

Before that, Trump said he would impose import taxes on eight countries – including the UK – who opposed US plans to seize Greenland, an autonomous territory in the Kingdom of Denmark which is a member of Nato.

He later backed down from the tariff threat over Greenland citing progress towards a “future deal” over the island, but the episode strained US relations with Denmark and other Nato allies.