""Our Trade Deals are very important to America. In each of these Deals, we have acted swiftly to reduce our TARIFFS in line with the Transaction agreed to," Trump said. "We, of course, expect our Trading Partners to do the same.""
"The threat was a reminder that the tariff drama unleashed last year by Trump is likely to be repeated again and again this year. The global economy and U.S. voters might find the world's trade structure constantly being subject to disruption and new negotiations as Trump has already sought to levy tariffs in order to bend other nations to his will."
"Trump has in the past tied his tariffs to commitments by South Korea to invest $350 billion in the U.S. economy over several years, including efforts to revitalize American shipyards. But the Trump administration's relations with South Korea have at times been rocky with the raid last year by immigration officials at a Hyundai manufacturing site in Georgia in which 475 people were detained."
President Donald Trump raised import taxes on South Korean automobiles, lumber, and pharmaceutical drugs and increased tariffs on other goods from 15% to 25% because South Korea's legislature had not approved a trade framework. The tariffs were initially imposed under an economic emergency declaration that bypassed Congress. Trump previously linked tariffs to South Korea committing to invest $350 billion in the U.S., including revitalizing American shipyards. Bilateral relations have been strained at times, including a U.S. immigration raid at a Hyundai facility in Georgia detaining 475 people. South Korea's presidential office said ministers will travel to the U.S. for talks with Commerce and trade officials.
Read at Fast Company
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