South Korea Tariff News and Tracker Podcast Por Quiet. Please arte de portada

South Korea Tariff News and Tracker

South Korea Tariff News and Tracker

De: 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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Episodios
  • US Slaps 25% Tariff on South Korean Imports Amid Tense Trade Talks and Potential Economic Impact for Automakers

    US Slaps 25% Tariff on South Korean Imports Amid Tense Trade Talks and Potential Economic Impact for Automakers
    May 22 2025
    Welcome to South Korea Tariff News and Tracker.

    South Korean businesses are currently navigating the impact of a 25% tariff imposed by the United States on April 9th, 2025. This represents the highest tariff rate the U.S. has imposed on any of its Free Trade Agreement partners, exceeding even Japan at 24% and the EU at 20%.

    The automotive sector has been particularly affected, with South Korean vehicle exports to the U.S. valued at $34.7 billion last year, accounting for nearly half of the country's total automotive exports. Hyundai and Kia face tariffs as high as 200% on certain vehicle imports.

    There is a potential reprieve on the horizon, however. Korean and U.S. officials are holding trade talks this week, working toward a comprehensive trade package before July 8th, when the 90-day tariff suspension is set to end. Initially announced at 26%, the Trump administration revised the reciprocal tariff rate for South Korea down to 25% after South Korean officials made late-night efforts to secure a lower rate.

    The impact of these tariffs has been significant. South Korea experienced an unexpected economic contraction in the first quarter of this year, and the International Monetary Fund has downgraded its growth forecast for South Korea's economy in 2025 to just 1%, down from an earlier projection of 2%.

    In a positive development for global trade, the U.S. recently reached an agreement with China to reduce tariffs by 115% while retaining an additional 10% tariff. This deal, announced on May 12th, might signal a potential willingness for negotiation with other trading partners, including South Korea.

    South Korean Trade Minister Ahn Duk-geun emphasized last week that "South Korea maintains a bilateral free trade agreement with the United States unlike several other nations," and expressed that the country is "persistently advocating for exemptions from all reciprocal tariffs."

    For South Korean automakers, the situation is particularly complex. President Trump's automobile tariff of 25% took effect on April 2nd, impacting engines, transmissions, powertrain parts, electrical components, and fully assembled cars. This came just as Hyundai Motor Group opened its third U.S. production site, a $7.6 billion electric vehicle plant in Georgia.

    Thank you for tuning in to South Korea Tariff News and Tracker. Don't forget to subscribe for regular updates on this developing situation. 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 m
  • US Imposes 25 Percent Tariff on South Korean Exports Shocking Automotive Semiconductor and Steel Industries

    US Imposes 25 Percent Tariff on South Korean Exports Shocking Automotive Semiconductor and Steel Industries
    May 15 2025
    Welcome back, listeners, to the latest edition of the South Korea Tariff News and Tracker. It's May 15, 2025, and we have significant developments in the tariff landscape between South Korea and the United States—news that’s sending ripples through global trade and impacting multiple sectors at home and abroad.

    On April 9, the United States enacted a 25 percent tariff on South Korean exports, a substantial increase that marks the highest rate ever imposed on a U.S. Free Trade Agreement partner, even outpacing Japan’s 24 percent and the European Union’s 20 percent. According to Source of Asia, South Korean companies, accustomed to smooth trade since the 2007 FTA, are now facing a dramatically altered business environment. The tariffs have sent shockwaves through South Korea’s key industries, with the automotive, semiconductor, and steel and aluminum sectors at the forefront of the disruptions.

    Hyundai and Kia, two of South Korea’s most prominent automakers, accounted for $34.7 billion in vehicle exports to the U.S. last year—nearly half of the nation’s total automotive exports. These companies are now not only facing the 25 percent general tariff but are also grappling with additional threats of tariffs on specific vehicle imports that could soar as high as 200 percent, according to Source of Asia. The impact on their supply chains is immediate and considerable, as South Korean automakers rely heavily on imported parts to assemble vehicles at their American plants. Hyundai, for example, sources about 12 percent of its parts locally in North America, while Kia sources up to 20 percent, as highlighted by the Korea Economic Institute of America.

    The situation is particularly adverse, given that new tariffs land just as Hyundai Motor Group celebrates opening its third U.S. production facility in Georgia—a $7.6 billion investment aimed at expanding electric vehicle production. This move was quickly followed by an announcement of an additional $21 billion to be invested in the United States, with $9 billion earmarked for car production and $6.1 billion for the steel industry, which is also now subject to the new 25 percent duty.

    The Trump administration’s protectionist stance is reshaping not only bilateral trade but also wider diplomatic and economic alliances. According to Yonhap News, there was initially confusion when the White House announced a reciprocal tariff rate of 26 percent for South Korea before correcting it to 25 percent after urgent diplomatic outreach from Seoul, which argued that every percentage point makes a significant difference given South Korea's large export volume.

    Meanwhile, the White House has emphasized a new “baseline” 10 percent tariff on all imports, with reciprocal tariffs targeting individual countries for what the administration sees as unfair trade practices. The New York Times reports these tariffs are additional to measures from Trump’s first term, amplifying pressure not just on China—which now faces a combined 104 percent tariff—but also on traditional allies like South Korea.

    As the U.S.-South Korea trade relationship navigates these turbulent times, there is uncertainty whether new agreements will eventually supplement or replace the existing FTA. Korean business leaders and government officials are actively engaging with Washington, seeking to mitigate the most severe effects through new investment commitments and ongoing negotiations.

    Thank you for tuning in to the South Korea Tariff News and Tracker. Don’t forget to subscribe for the latest updates and insights. 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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    4 m
  • US Imposes Heavy Tariffs on South Korean Exports Sparking Trade Tensions and Potential Economic Challenges

    US Imposes Heavy Tariffs on South Korean Exports Sparking Trade Tensions and Potential Economic Challenges
    May 11 2025
    The recent weeks have seen significant developments in trade relations between the United States and South Korea, particularly regarding tariffs. On April 9, 2025, the U.S. introduced a 25% tariff on South Korean exports, marking a substantial shift in their trade dynamics. This move has placed South Korean businesses under considerable pressure, especially in key sectors such as automotive, semiconductors, and steel & aluminum.

    The automotive sector is one of the hardest hit, with Hyundai and Kia facing tariffs as high as 200% on certain vehicle imports. South Korea exported nearly half of its automotive output to the U.S. in 2024, with passenger vehicles accounting for a significant portion of its total exports. Despite these challenges, Hyundai recently opened a major electric vehicle plant in Georgia, showcasing ongoing investment despite tariff obstacles.

    However, on April 10, 2025, the U.S. administration announced a broader policy change: a flat 10% tariff on imports from all countries, with exceptions for China and Hong Kong, which face higher rates. This adjustment has complicated South Korea's situation, as initial reports indicated a higher rate, but it was later revised.

    President Trump's trade policies have been part of a wider strategy aimed at pressuring countries like South Korea, Japan, and Vietnam to align with U.S. positions on China. However, these efforts seem to be backfiring, as they have instead strengthened regional cooperation and criticism of U.S. protectionism.

    In another significant development, experts warn that Trump's tariff plans might undermine the U.S.-South Korea alliance, especially during ongoing discussions about cost-sharing for U.S. troops stationed in South Korea.

    Thank you for tuning in to this episode of "South Korea Tariff News and Tracker." Don't forget to subscribe for the latest updates on trade relations between South Korea and the United States. 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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    2 m
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