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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 Imposes Highest Ever Tariffs on South Korea Hitting Automotive Semiconductor and Steel Sectors Hard

    US Imposes Highest Ever Tariffs on South Korea Hitting Automotive Semiconductor and Steel Sectors Hard
    Jun 1 2025
    Welcome to South Korea Tariff News and Tracker. Today’s focus: the latest headline developments in U.S.-South Korea trade, tariff rates, and the reverberations through South Korean industry as the Trump administration’s new measures take hold.

    South Korea and the United States, once champion partners of free trade under their 2007 FTA, are now navigating what Source of Asia calls a “major shake-up.” On April 9th, President Trump’s administration imposed an unprecedented 25 percent tariff on South Korean exports. This new rate stands out—it’s now the highest the U.S. has ever levied on a fellow FTA partner, surpassing even the 24 percent set for Japan and 20 percent for the European Union.

    The impact of this sudden spike is rippling far beyond trade statistics. Yonhap News Agency reports that Trump initially announced a 26 percent “reciprocal” tariff for South Korea, but after late-night outreach from South Korean officials, the rate was dialed back to 25 percent. Seoul’s diplomats argued that even a one percent difference would result in billions of dollars in extra cost given Korea’s substantial export volume to the United States.

    The tariff rollout is two-pronged. On April 5th, all imports to the U.S. became subject to a new 10 percent baseline tariff, according to an official White House fact sheet. Then, starting April 9th, certain countries—including South Korea—faced higher, country-specific tariffs as part of the Trump administration’s push for what it calls “reciprocal” treatment. The White House says these measures will stay until the administration determines America’s trade deficit and nonreciprocal treatment have been addressed.

    Which industries in South Korea feel the burn most? Source of Asia singles out the automotive, semiconductor, steel, and aluminum sectors as especially vulnerable. Take the car industry: last year, $34.7 billion in Korean vehicles crossed the Pacific, nearly half of all Korea’s automotive exports. Now, companies like Hyundai and Kia face tariffs as high as 200 percent on certain vehicle imports, compounding uncertainty and financial risk. The Trump administration’s tariff on auto parts also drives up costs for Korean manufacturing in the U.S.—a serious blow, given recent investments like Hyundai’s $7.6 billion EV plant in Georgia.

    The trade shockwaves are visible in the economy at large. The Korea Development Institute recently cut its 2025 growth outlook to below one percent, with CSIS noting that South Korea was among the first nations to feel the negative economic effects of the new U.S. trade policy. All this tariff drama unfolds as South Korea prepares for a pivotal presidential election on June 3rd, with trade policy looming over an economy already challenged by an aging population and stagnant growth.

    Listeners, these new tariffs could redefine U.S.-Korea economic dynamics and industry competitiveness for years to come. That’s it for this edition of South Korea Tariff News and Tracker. Thank you for tuning in—don’t forget to subscribe to catch future episodes. This has been a quiet please production, for more check out quiet please dot ai.

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    3 mins
  • US Imposes 25 Percent Tariff on South Korean Exports Amid Tense Trade Negotiations and Economic Uncertainty

    US Imposes 25 Percent Tariff on South Korean Exports Amid Tense Trade Negotiations and Economic Uncertainty
    May 29 2025
    Listeners, welcome to the latest episode of South Korea Tariff News and Tracker, your source for the most up-to-date coverage and analysis on tariffs impacting South Korea and its pivotal trade relationship with the United States.

    As of late May 2025, the trade environment between South Korea and the U.S. is at a critical juncture. Earlier this spring, the Trump administration imposed a 25 percent reciprocal tariff on South Korean exports—a move that sent shockwaves through the industries that have long benefited from the two countries’ free trade agreement. This new rate replaces the briefly considered 26 percent level, after late-night negotiations by South Korean officials led to a revision, confirming 25 percent as the final figure, as reported by Yonhap News Agency.

    This 25 percent tariff, the highest the U.S. has ever applied to an FTA partner, now stands above those for Japan and the European Union, which currently face tariffs of 24 percent and 20 percent, respectively. The sectors feeling the brunt of these actions include automotive, semiconductors, steel, aluminum, and consumer electronics. The automotive industry in particular is reeling, as $34.7 billion worth of South Korean vehicles were exported to the United States last year alone, nearly half of the nation’s total automotive exports. Hyundai and Kia, major players in the U.S. market, now face the prospect of additional vehicle-specific tariffs as high as 200 percent, according to Source of Asia.

    South Korea’s government is pushing hard for tariff exemptions or reductions, leveraging its longstanding free trade agreement with the U.S. and a significant track record of investment and trade. Trade Minister Ahn Duk-geun recently expressed in Jeju that South Korea “maintains a bilateral free agreement with the United States unlike several other nations,” and is prioritizing negotiations to seek relief from both reciprocal and product-specific tariffs.

    Trade officials from both sides have been in intensive talks in Washington this week. The outcome is especially urgent, as President Trump’s 90-day suspension of an even steeper 34 percent tariff expires in July. According to the Los Angeles Times, these negotiations have also expanded to encompass issues such as currency policy and defense cost-sharing, reflecting broader strategic friction between the allies.

    All this is unfolding against a backdrop of economic uncertainty, with the IMF recently downgrading South Korea’s 2025 growth forecast to just 1 percent, citing the steepest effective tariff rates in a century and a highly volatile trade environment, as reported by UPI.

    Listeners, we’ll be watching closely as these negotiations continue, with high stakes for South Korea’s economy, industries, and global standing. Thank you for tuning in to South Korea Tariff News and Tracker. Don’t forget to subscribe for the latest updates. This has been a quiet please production, for more check out quiet please dot ai.

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

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    3 mins
  • US Imposes Record 25% Tariffs on South Korea Sparking Trade Tensions and Economic Uncertainty in 2025

    US Imposes Record 25% Tariffs on South Korea Sparking Trade Tensions and Economic Uncertainty in 2025
    May 25 2025
    Listeners, welcome to South Korea Tariff News and Tracker. Today’s date is May 25, 2025, and South Korea’s trade relationship with the United States is facing its sharpest challenge in years. This spring, the U.S. imposed a 25% reciprocal tariff on South Korean exports—the highest ever leveled against a U.S. FTA partner, surpassing even recent hikes for Japan and the European Union. This move, announced by President Donald Trump’s administration in early April, replaced an initial plan for a 26% rate, which was quickly revised after urgent diplomatic outreach from Seoul, according to Yonhap News Agency.

    These tariffs hit core South Korean industries hard, especially automotive, semiconductors, steel, and aluminum. Last year, South Korea exported nearly $35 billion worth of vehicles to the U.S.—almost half its total car exports. Now, Hyundai and Kia, two of the nation’s biggest automakers, face additional product-specific duties of 25% on cars, steel, and aluminum. In some cases, tariffs for certain vehicle imports could rise as high as 200%, according to reporting from Source of Asia.

    The Trump administration says these tariffs are part of a broader strategy aimed at recalibrating America’s global trade relationships. President Trump announced a minimum 10% baseline tariff on all imports to the U.S., and these reciprocal tariffs are a key feature of his “Liberation Day” trade measures. These new policies, detailed by the White House, were introduced under the International Emergency Economic Powers Act, targeting what the administration describes as unfair trade advantages and supply chain vulnerabilities.

    South Korea’s government has responded with urgency, pushing for either a reduction or exemption from these tariffs. Trade Minister Ahn Duk-geun recently highlighted that South Korea’s longstanding free trade agreement with the U.S. and strong bilateral investment ties should qualify the country for relief. Trade talks are now underway between American and South Korean officials, with a July 8 deadline looming, when the current 90-day tariff suspension is set to expire. As reported by UPI and the Los Angeles Times, these negotiations have expanded to include other sensitive issues, such as currency exchange and defense cost-sharing.

    The International Monetary Fund, in its latest outlook, slashed South Korea’s economic growth forecast to just 1% for 2025, citing the global tariff war and unprecedented trade volatility.

    With a pivotal South Korean presidential election just days away on June 3, the outcome of these trade negotiations stands to shape the next government’s agenda and the future of U.S.-Korea economic ties.

    Thank you for tuning in to South Korea Tariff News and Tracker. Be sure to subscribe for the latest updates as this story develops. This has been a quiet please production, for more check out quiet please dot ai.

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

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    3 mins

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