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South Korea Tariff News and Tracker

South Korea Tariff News and Tracker

By: Quiet. Please
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 This is your South Korea Tariff Tracker podcast.

Dive into the dynamic world of international trade with "South Korea Tariff Tracker," your daily source for the latest news and updates on tariffs imposed on South Korea by the United States. Stay informed as we explore the impact of these trade policies on the global economy, featuring expert analysis and insightful discussions. Whether you're a business professional, policymaker, or simply curious about international relations, "South Korea Tariff Tracker" keeps you ahead with timely, relevant information. Tune in daily to understand how these tariffs shape economic landscapes and influence global trade dynamics.

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Episodes
  • US and South Korea Reach Landmark Trade Deal with 15% Tariff and Massive Investment Pledge Amid Economic Tensions

    US and South Korea Reach Landmark Trade Deal with 15% Tariff and Massive Investment Pledge Amid Economic Tensions
    Aug 15 2025
    Listeners, this is your latest edition of the South Korea Tariff News and Tracker, bringing you the most important updates on the US-South Korea trade relationship and tariff developments as of August 15, 2025.

    The top headline is a major shift in trade policy between the United States and South Korea. President Donald Trump announced that a new trade deal has been reached with South Korea, setting a 15% tariff rate on South Korean imports into the US. This comes right before a broader tariff deadline and represents a significant reduction from a previously threatened 25% rate on key South Korean exports such as automobiles, which had been a major concern for Korea’s manufacturing sector. South Korea, in return, has pledged a substantial $350 billion investment in the US and a $100 billion commitment to purchase American energy products, moves expected to deepen economic ties even amid heightened protectionism. Trump declared on Truth Social that South Korea will be "completely open to trade" with the US and would recognize American standards for vehicles and agriculture, signaling a new era of open market access in both directions, according to Reuters and the New York Post.

    For South Korean exporters, the new 15% tariff is a sharp change from the zero-tariff regime many have enjoyed under the Korea-US Free Trade Agreement for more than a decade. MK Economy highlights that, while the 15% rate is lower than the potential 25% hike, it still represents a significant increase in cost and could reshape longstanding business models for Korean automotive and electronics companies. The agreement also comes with substantial regulatory changes in safety and agriculture, which may affect the competitiveness of US goods in Korea.

    Fitch Ratings and the Asian Journal of Transport note that Korean auto and semiconductor firms were facing mounting anxiety over the US tariff posture. The deal’s announcement has calmed some fears, but companies are still bracing for a challenging adjustment as they navigate the 15% tariff and ramp up compliance with new US requirements. The US move is part of President Trump’s wider tariff overhaul, replacing a previous universal 10% with a new tiered, country-specific system and introducing a 40% penalty for transshipments, as reported by Custom Goods.

    On the political front, the Trump-Lee summit marked a defining moment in the bilateral relationship, not just on trade but also security and alliance modernization. The Lee administration’s willingness to prioritize partnership with the US is clear, pledging major support for American shipbuilding and defense, but observers warn that the broad, sometimes vague nature of these agreements means implementation and ratification may face scrutiny in Seoul. Asia Times underscores that the future of US troops in Korea and Seoul’s role in East Asian security could quickly become contentious issues.

    Thank you for tuning in to the South Korea Tariff News and Tracker. Make sure to subscribe for the latest insights. This has been a Quiet Please production, for more check out quietplease dot ai.

    For more check out https://www.quietperiodplease.com/

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    3 mins
  • US-Korea Trade Deal Cuts Tariffs to 15% Amid $350 Billion Investment Pledge and Ongoing Economic Negotiations

    US-Korea Trade Deal Cuts Tariffs to 15% Amid $350 Billion Investment Pledge and Ongoing Economic Negotiations
    Aug 13 2025
    Listeners, here’s your South Korea Tariff News and Tracker for Wednesday, August 13, 2025.

    Major developments are shaping the economic landscape between South Korea and the United States this summer. The most significant headline is that the U.S. and South Korea have locked in a new tariff framework: a flat 15% import tariff on all South Korean goods entering the American market, impacting everything from automobiles and semiconductors to consumer electronics and industrial machinery. This deal, announced by President Donald Trump on July 30, lowers the proposed tariff from an initially threatened 25%. For listeners, that means a reprieve for Korean carmakers and tech exporters, even though the new rate still marks a sharp increase over previous trade arrangements, such as the KORUS FTA, where many products entered tariff-free. According to Asianews Network, the auto sector is among the most affected, with South Korean cars and auto parts now facing that 15% rate, down from the threatened 25% that nearly sent shockwaves through global supply chains.

    MarineLink reports President Trump and South Korea’s new President Lee Jae Myung will meet at a Washington summit on August 25 to finalize the deal and chart next steps. Lee, elected in June, is keen to secure his nation’s economic interests amid these dramatic U.S. policy shifts. The tariff cut was not unconditional: South Korea has pledged a massive $350 billion in new direct and portfolio investments in American industries, notably for semiconductors, batteries, shipbuilding, and critical minerals—key sectors for supply chain security in both countries. In addition, The Korea JoongAng Daily highlights that South Korea agreed to purchase as much as $100 billion in U.S. energy exports as part of the arrangement.

    Yet, the situation remains fluid and, as the Korea Economic Institute of America points out, there are still disputes and unresolved issues, including American calls for South Korea to further increase defense contributions and lower non-tariff barriers for U.S. firms. Some analysts warn that Trump is likely to push for tying tariff relief to purchases of U.S. weapons or changes in Korean currency policy, making the summit not just about trade, but national security and wider economic leverage.

    Meanwhile, in a sector-specific twist, pv magazine reveals that South Korea’s government is lobbying hard for exemptions from pending U.S. tariffs on polysilicon imports—an essential material for solar panels and semiconductors. Officials warn that sweeping tariffs could threaten $2.8 billion in U.S.-bound Korean solar investments and stall critical clean energy job growth stateside.

    The numbers show the real-world impact: According to VizionAPI, container volumes from Korea to the U.S. have slipped 16% from last year’s pace through week 31, showing exporters are still adjusting to the higher tariff reality even as some investment shifts back to the U.S.

    Thanks for tuning in to South Korea Tariff News and Tracker. Don’t forget to subscribe for the latest updates on this fast-moving story. This has been a Quiet Please production, for more check out quiet please dot ai.

    For more check out https://www.quietperiodplease.com/

    Avoid ths tariff fee's and check out these deals https://amzn.to/4iaM94Q
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    3 mins
  • US-South Korea Reach Provisional Trade Deal with 15 Percent Tariff Amid Semiconductor Tensions and Economic Uncertainty

    US-South Korea Reach Provisional Trade Deal with 15 Percent Tariff Amid Semiconductor Tensions and Economic Uncertainty
    Aug 11 2025
    Listeners, here’s your South Korea Tariff News and Tracker update for Monday, August 11, 2025.

    The headline today: the United States and South Korea have a provisional deal that puts a 15 percent tariff on Korean imports into the U.S., after President Trump initially threatened 25 percent. According to The Korea Times, the July 30 announcement mirrors arrangements with Japan and the EU: a 15 percent tariff paired with Korean investment commitments in the U.S., while U.S. products entering Korea remain tariff-free for now. The Korea Times adds that Korean car exports to the U.S. will face that 15 percent rate, down from the 25 percent Trump applied to most of the world’s autos earlier this year. Attention now turns to whether the U.S. will extend tariffs to pharmaceuticals, steel, and—crucially—semiconductors, which have been duty-free under KORUS.

    Channel NewsAsia reports added uncertainty after President Trump said on August 6 he plans to impose about a 100 percent tariff on imported semiconductors unless companies manufacture in the U.S. Seoul says it secured most-favored-nation treatment for chips in the broader deal, but chipmakers remain on edge as key details aren’t public. Expect this to dominate the anticipated Lee–Trump summit later this month.

    Korea’s near-term data reflect the shock. The Korea JoongAng Daily, citing Korea Customs Service figures, says exports fell 4.3 percent year-on-year in the first 10 days of August, with shipments to the U.S. down 14.2 percent on the tariff moves. Officials note the daily average of exports actually rose, and the new reciprocal 15 percent rate only took effect on August 7, suggesting front-loading before duties kicked in. By item, semiconductors rose 12 percent, while steel and petrochemicals fell sharply.

    On consumer goods, GOBankingRates notes the current 15 percent tariff could lift U.S. prices for Korean beauty and wellness products, though the impact may be modest compared with the originally floated 25 percent. U.S. imports of Korean cosmetics were $1.7 billion in 2024, and brands are assessing whether to raise prices or absorb margins.

    Policy watchers expect more to come. JD Supra and Mondaq briefings on the “reciprocal tariffs” framework say the Administration’s country-by-country rates span roughly 10 to 41 percent across more than 60 partners, with the August 7 measures operational. Legal analysts are tracking sector carve-outs and phase-in rules that could affect Korean categories beyond autos.

    Diplomatically, The Japan Times reports Seoul’s strategy—large-scale U.S. investment pledges, flexibility in talks, and rapid follow-up—helped secure one of the most favorable tariff outcomes before the deadline, but tougher bargaining looms on defense cost-sharing and chip policy. The Korea Economic Daily adds a Lee–Trump summit is likely around August 25, as Seoul simultaneously deepens trade ties with Vietnam and others to cushion U.S. tariff exposure.

    Thanks for tuning in, and don’t forget to subscribe. This has been a quiet please production, for more check out quiet please dot ai.

    For more check out https://www.quietperiodplease.com/

    Avoid ths tariff fee's and check out these deals https://amzn.to/4iaM94Q
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    3 mins
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