President Donald Trump said Monday that he was increasing tariffs on imported autos, pharmaceuticals, and lumber from South Korea from 15% to 25% because of a delay in that country’s legislature approving a trade deal with the United States reached last summer.

 

Hyundai Motor shares fell as much as 4.77% on the heels of the news, but later pared losses and were last down 0.81% in volatile trading. The South Korean-based is the largest importer of new vehicles from that country into the United States.