Trump Announces 15% Global Tariff, South Korea Braces for Trade Shock
Updated (2 articles)
Trump Unveils 15% Worldwide Import Levy President Donald Trump announced a blanket 15 percent levy on all imports on February 23, 2026, following a U.S. Supreme Court ruling, calling the move “wild” and unprecedented [1]. South Korean dailies reported the announcement within hours, emphasizing its immediate impact on bilateral trade [1]. The tariff applies globally, marking a sharp policy shift from previous U.S. trade measures [1].
Rate Escalates From 10% to 15% Overnight Korean newspapers Kyunghyang Shinmun, Donga Ilbo and Seoul Shinmun highlighted that the tariff rate jumped from the previously discussed 10 percent to 15 percent within a single day [1]. Analysts noted the speed of the change amplified market volatility and forced exporters to reassess pricing strategies [1]. The rapid escalation was described as a “shock to markets” across the region [1].
Supreme Court Block Does Not Halt Implementation Reports from JoongAng Ilbo and Korea Economic Daily stated that even if the Supreme Court were to block the tariff, Trump vowed to proceed with enforcement [1]. The administration framed the tariff as a non‑negotiable component of U.S. trade policy, regardless of judicial outcomes [1]. This stance reinforced uncertainty for countries awaiting legal clarification [1].
Seoul Plans Continuity While Warning Industries English‑language outlets Korea Herald, Korea Times and Korea JoongAng Daily said South Korea intends to preserve the existing U.S. trade agreement despite the new levy [1]. Government officials urged domestic firms to develop a “Plan B” to mitigate potential cost increases [1]. The media stressed cautious optimism, balancing diplomatic engagement with preparedness for adverse effects [1].
Overall Media View Tariff as Global Trade Reset Collectively, South Korean press portrayed the 15 percent tariff as a reset of the ongoing tariff war, generating widespread uncertainty for global commerce [1]. Commentators warned that the policy could trigger retaliatory measures and reshape supply‑chain dynamics [1]. The coverage underscores heightened vigilance among policymakers and industry leaders [1].
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Timeline
Oct 2025 – South Korea and the United States finalize a bilateral trade deal, setting the framework for reciprocal tariffs and a US$350 billion investment pledge that later becomes a flashpoint in U.S. policy [2].
Jan 27, 2026 – President Trump posts that reciprocal tariffs and auto duties on South Korean goods rise from 15% to 25%, arguing the South Korean National Assembly has not completed the domestic process for the October trade agreement [2].
Jan 27, 2026 – Analysts say the 25% hike is meant to pressure Seoul into passing a special investment bill supporting the US$350 billion pledge before a U.S. Supreme Court could potentially strike down the reciprocal tariffs; Kwon Nam‑hoon notes the move seeks a firm Korean commitment “before the Court could intervene” [2].
Jan 27, 2026 – Seoul schedules an emergency inter‑agency meeting led by chief of staff Kim Yong‑beom, while Industry Minister Kim Jung‑kwan prepares talks in Washington with Commerce Secretary Howard Lutnick and Prime Minister Kim Min‑seok raises the Coupang data‑leak probe with U.S. Vice President JD Vance [2].
Feb 22, 2026 – After a U.S. Supreme Court ruling blocks a prior measure, Trump imposes a blanket 15% global tariff on imports, calling the action “wild” and unprecedented, and signaling a reset of the ongoing tariff war [1].
Feb 22, 2026 – The tariff rate jumps from 10% to 15% within a day, shocking markets; South Korean dailies warn industries to prepare a “Plan B” while urging continuity in trade negotiations [1].
Feb 22, 2026 – Even if the Supreme Court later blocks the measure, Trump vows to continue the tariff implementation, underscoring his resolve to pursue the policy despite judicial opposition [1].
Feb 22, 2026 – Korean English‑language papers stress that Seoul will maintain the U.S. trade deal despite the tariff shock, urging firms to ready contingency plans amid heightened global trade uncertainty [1].