Photo : KBS News
U.S. President Donald Trump has announced 25 percent reciprocal tariffs on imports from South Korea. Trump made the announcement on Wednesday during the "Make America Wealthy Again" event at the White House Rose Garden, unveiling sweeping new tariffs on the U.S.’ trading partners. The new tariffs feature two key policies: a baseline tariff of ten percent for all imports that will go into effect on Saturday and additional country-specific "reciprocal" tariffs which will take effect next Wednesday. The U.S. is imposing a 25 percent tariff on South Korea, 34 percent on China, 20 percent on the European Union, 46 percent on Vietnam, 32 percent on Taiwan, 24 percent on Japan and 26 percent on India.
Trump said that for decades, the United States has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike, asserting that the new tariffs are necessary to combat trade imbalances and restore U.S. manufacturing.