The U.S. is imposing a 25% tariff on Korea because of trade deficits that it claims are “engendered by Korea’s Tariff and Non Tariff, Policies and Trade Barriers.” But Korea has a free trade agreement with the U.S. It charges zero tariffs on nearly everything. pic.twitter.com/FaOFyeHWbf
— Justin Wolfers (@JustinWolfers) July 7, 2025
Korea just got slapped with a 25% tariff—because of trade barriers that don’t exist. They already have a free trade deal with the U.S. Zero tariffs. Nothing. Nada. Zilch. A kimchi donut. pic.twitter.com/Pbv4kVwib8
— Justin Wolfers (@JustinWolfers) July 9, 2025