Washington: White House spokesperson Karoline Leavitt announced Thursday that she does not have a timeline for President Donald Trump's plan to increase "reciprocal" tariffs on South Korea.
According to Yonhap News Agency, Leavitt addressed the issue during a press briefing, where she responded to inquiries about the administration's plans to raise tariffs from 15 percent to 25 percent, as stated by Trump the previous week. "I don't have a timeline for you on that, but I will make sure that our trade team here at the White House gets you an answer swiftly and promptly," she assured reporters.
Last Monday, President Trump expressed intentions to elevate tariffs on South Korea, including those on auto, lumber, and pharmaceuticals, due to delays in the country's legislative process necessary for a bilateral trade agreement. Under this agreement, South Korea committed to a substantial investment of US$350 billion in U.S. industries in exchange for the reduction of reciprocal tariffs from 25 percent to 15 percent.