US President Donald Trump has announced a significant increase in tariffs on South Korean imports to 25%, accusing Seoul of failing to uphold a trade deal reached last year.

• Tariffs on products including automobiles, lumber, and pharmaceuticals are increasing from 15% to 25%.
• South Korea’s Industry Minister Kim Jung-kwan will visit Washington to discuss the issue with US Commerce Secretary Howard Lutnick.
• The previous deal, reached last October, included a $350 billion (£256 billion) investment pledge from South Korea in the US.