Trump Accused South Korea of Breaking the Agreement

Donald Trump accused South Korea on his Truth Social page of not complying with the trade agreement reached last year. This was reported by Zamin.uz.

He announced his intention to increase the current 15 percent tariff rates on a wide range of products, including automobiles, wood materials, and pharmaceutical products, to 25 percent. According to Trump, South Korea is slow in the process of ratifying the agreement.

At the same time, the United States has taken faster steps in fulfilling its obligations. The decision to raise tariff rates was explained precisely by the failure to fulfill the agreement's commitments.

South Korean officials stated that they have not yet received an official notification regarding this decision and expressed their readiness to promptly discuss the matter with the United States. It is worth recalling that the parties reached a trade agreement in October last year, according to which South Korea planned to invest 350 billion dollars in the US economy.

A portion of these funds is intended to be directed to the shipbuilding sector. This agreement is currently being reviewed by the South Korean National Assembly and, according to local media, it may be approved in February.