Trump is threatening to hike tariffs on these South Korean goods. Here’s why

President Donald Trump said Monday he is increasing tariffs on South Korean goods because the country’s legislature has yet to approve the trade framework announced last year.

Trump said on social media that import taxes would be raised on autos, lumber and pharmaceutical drugs from South Korea with the rate on other goods going from 15% to 25%. The U.S. president previously imposed the tariffs by declaring an economic emergency and bypassing Congress, while South Korea needed legislative...