Trump threatens to hike tariffs on South Korea as national assembly has yet to approve last year’s trade deal

President Donald Trump said Monday he is increasing tariffs on South Korean goods because the country’s national assembly 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...