The House Judiciary Committee wrote, “This is what happens when you unfairly target American companies like Coupang.”
Trump announced on Monday that he is raising tariffs on South Korea to 25 percent from 15 percent because of the country’s refusal to enact the “historic” trade deal between the United States and South Korea. He wrote on Truth Social:
Our Trade Deals are very important to America. In each of these Deals, we have acted swiftly to reduce our TARIFFS in line with the Transaction agreed to. We, of course, expect our Trading Partners to do the same.
South Korea’s Legislature is not living up to its Deal with the United States. President Lee and I reached a Great Deal for both Countries on July 30, 2025, and we reaffirmed these terms while I was in Korea on October 29, 2025. Why hasn’t the Korean Legislature approved it?
Because the Korean Legislature hasn’t enacted our Historic Trade Agreement, which is their prerogative, I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS, from 15% to 25%. Thank you for your attention to this matter!
Trump’s decision to raise tariffs on South Korea followed after Breitbart News reported that two major investors in Coupang, an e-commerce company that is South Korea’s second-largest private employer after Samsung, urged the Trump administration to investigate the South Korean government.
The major investors, Greenoaks and Altimeter, accused the country of a witch hunt against Coupang after there was a major consumer data breach that led to billions of dollars in losses for investors. Backers of Coupang believe that the extent of the data breach was overstated and over-penalized to boost competition for domestic and Chinese companies.
South Korean Prime Minister Kim Min-seok said that law enforcement should go after the company with the “same determination used to wipe out mafias.”
Sen. Mike Lee (R-UT) said that the South Korean actions against Coupang amount to “unprecedented persecution”:
Imagine if Congress & the Trump administration threatened to prosecute the CEOs of Samsung & LG — just because they’ve had success selling their products to U.S. consumers. This is happening now to leaders of @CoupangInc, a U.S. tech company that exports billions of dollars in American products to South Korea. The Lee Jae-myung government’s unprecedented persecution of Coupang & its U.S.-citizen executives — including one of my constituents — is unacceptable. This madness must stop. Coupang should have free & fair access to the Korean market.
Joe Lonsdale, a founder of Palantir, said on X:
S Korea’s government is making a huge mistake following in China’s footsteps and illegally harassing a US company to favor Chinese tech giants. Really appreciate Neil and Greenoaks for standing up for American founders, even if it means suing a sovereign. Korea’s President Lee will need to decide whether hurting Korean workers, growth, and trade relations are worth sacrificing to advance CCP interests. Business with the USA must be free and fair. We don’t tolerate discrimination and bullying.
He added, “Korea doesn’t have the same freedom of speech protections as the U.S., so it will be hard to find the real story in the mainstream Korean media.”
Breitbart News
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