India, Jan. 27 -- President Donald Trump announced that he is increasing tariffs on goods imported from South Korea by 10 percent to 25, because the Asian ally failed to live up to a trade agreement between the two sides last year.

"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 said in a statement posted on Truth Social Monday.

"President Lee and I reached a Great Deal for both Countries on July 30, 2025 and we reaffirmed these terms while I was in Korea on October 29, 2025," Trump said, referring to a commitment made by Seoul in July last year to invest...