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South Korea Tariff News and Tracker

South Korea Tariff News and Tracker

Auteur(s): 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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  • Trump Announces Massive 25% Tariff on South Korean Imports, Escalating Trade Tensions and Threatening Global Supply Chains

    Trump Announces Massive 25% Tariff on South Korean Imports, Escalating Trade Tensions and Threatening Global Supply Chains
    Jul 9 2025
    Listeners, the spotlight today is on the sweeping changes in U.S. trade policy that have put South Korea in the crosshairs of a dramatic tariff escalation. President Donald Trump has announced the United States will impose a **25% tariff on all goods imported from South Korea**, with the new rate set to take effect on August 1, 2025. This announcement was delivered in a formal letter to President Lee Jae-myung and posted on Trump’s Truth Social platform, sharply escalating protectionist trade moves and adding significant tension to U.S.-Korea economic relations. According to CBS News, Trump’s letters to South Korea and Japan emphasized that "tariffs will start being paid on Aug. 1, 2025—No extensions will be granted," signaling a hard stance and no further wiggle room for delays.

    The White House contends these tariffs are "reciprocal," aiming to pressure countries to address what Trump describes as longstanding trade imbalances and barriers. According to the Korea JoongAng Daily, South Korea sought an extension for negotiations and has been pushing for a comprehensive "package" deal that would include trade, investment, purchases, and broader security cooperation. Korean National Security Adviser Wi Sung-lac said these issues were discussed in depth during his meetings with U.S. Secretary of State Marco Rubio in Washington, where both sides agreed to keep communicating and attempt to reach an agreement before the August 1 deadline.

    The new tariffs target **every sector** of South Korean exports, from autos and steel to consumer electronics and, critically, semiconductors and advanced chips. Tech industry observers and outlets like Tom’s Hardware warn that the measure could deal a serious blow to Korea's high-tech manufacturing, given the country’s status as a major supplier of memory chips, cars, and industrial equipment to the U.S.

    South Korea is particularly vulnerable in the auto and metals sectors, which already face separate tariff threats. The effective tariff rate on U.S. imports overall is set to rise from around 2.5% in 2024 to more than 17% if no compromise is reached, according to economic analysis cited by CBS News. South Korea’s government maintains it imposes very low tariffs on U.S. goods under the existing free-trade agreement, but Trump has criticized Seoul for what he sees as “entrenched” barriers and for the burden of U.S. military spending on the peninsula.

    Meanwhile, the tariffs are adding unrest among U.S. allies in Asia. Politico reports that the letter campaign and abrupt tariff schedule have produced "shock, frustration, and anger" in Asian capitals, with Trump’s administration seeking to leverage these moves for both economic and diplomatic advantage, particularly in countering China’s influence in the region.

    Thank you for tuning in to the South Korea Tariff News and Tracker. Remember to subscribe for continued updates on U.S.-Korea trade and tariff developments. 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 min
  • Trump Imposes 25% Tariffs on South Korean Imports Effective August 2025, Disrupting Free Trade Agreement and Economic Relations

    Trump Imposes 25% Tariffs on South Korean Imports Effective August 2025, Disrupting Free Trade Agreement and Economic Relations
    Jul 8 2025
    Listeners, the biggest story today is President Donald Trump’s announcement of new 25% tariffs on all imports from South Korea, set to take effect on August 1, 2025. According to CBS News, Trump sent formal notification to South Korean President Lee Jae-myung and has made it clear that “all money will be due and payable starting Aug. 1, 2025 — No extensions will be granted.” This marks the end of a 90-day freeze on tariffs that began in April. The move is part of a broader tariff rollout hitting over a dozen countries, with the White House signaling more announcements are on the way.

    These tariffs essentially upend the current U.S.-Korea Free Trade Agreement, or KORUS, which had previously enabled about 95% of trade between the two countries to occur tariff-free. Reason magazine notes that KORUS, negotiated under both Bush and Trump, was credited with boosting trade nearly 70% over a decade, benefiting American farmers and increasing South Korean investment in the U.S. The decision to impose such widespread tariffs, Reason argues, undermines the long-term certainty businesses need and calls into question the reliability of U.S. trade policy for Korea and other partners.

    South Korea’s government has responded by convening an emergency cabinet meeting and pledging to negotiate a “mutually beneficial” deal before the August deadline. South China Morning Post reports that Seoul is looking at revising regulations and increasing cooperation in strategic sectors like shipbuilding and semiconductors to weather the impact and potentially reach an agreement that could soften the blow.

    These new tariffs are not isolated. According to the Budget Lab at Yale, the average U.S. tariff rate will rise to 17.6%, the highest since the 1930s. The overall price level in the U.S. is projected to rise 1.7% in the short run, with the average household seeing an income loss of around $2,300 this year. Real U.S. GDP growth is expected to drop by 0.7 percentage points over 2025, and payroll employment could decline by over half a million jobs.

    For South Korean companies, the effects are already being felt. The Korea Economic Daily reports that LG Electronics’ profits nearly halved in the second quarter, in large part due to the increased cost pressures from these tariffs, which have made their products more expensive in the U.S. market.

    Even as the U.S. administration leaves open the possibility to amend or lower tariffs if new trade deals are struck, industry experts warn, as CBS News quotes, that “at 25%, it is possible, but challenging, to trade with Japan and Korea,” emphasizing that trade with the U.S. is now “a pay to play proposition.”

    Thanks for tuning in to South Korea Tariff News and Tracker. Make sure to subscribe so you never miss an update on these rapidly developing stories. 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 min
  • US Tariffs Crush Korean Exports Trump Imposes 25 Percent Levy Devastating Semiconductor and Automotive Industries

    US Tariffs Crush Korean Exports Trump Imposes 25 Percent Levy Devastating Semiconductor and Automotive Industries
    Jul 7 2025
    Welcome to another edition of the South Korea Tariff News and Tracker podcast. Today, July 7, 2025, we dive into the latest updates on tariffs, the evolving US-South Korea trade relationship, and how recent moves by the Trump administration are shaping economic reality for both countries.

    This spring, there was a seismic shift in the trade landscape. On April 9, the Trump administration introduced a 25% tariff on all South Korean exports to the United States, surpassing even the rates levied on other major partners like Japan and the European Union. According to analysis by Source of Asia, this was the steepest tariff imposed on any nation with a free trade agreement with the US. The automotive, semiconductor, and steel industries have been hit hardest, with household names like Hyundai and Kia facing threats of tariffs as high as 200% on some vehicle imports.

    Shortly after these announcements, the White House issued another proclamation, temporarily reducing the blanket tariff rate to 10% for all countries, including South Korea, effective April 10. This 90-day pause, as outlined by the White House and confirmed by multiple trade trackers, kept the pressure high but spread the impact more evenly across global partners while the administration reviewed trade deficits and reciprocity issues. However, the 25% rate is scheduled for possible reimposition after July 8, intensifying uncertainty for Korean exporters and global supply chains.

    This round of tariffs comes amid heightened rhetoric from President Trump, who argues that large US trade deficits are driven by a lack of reciprocity in existing trade relationships. The administration’s executive order declared a national emergency to address what it views as threats to the US manufacturing base and national security. Reciprocal tariffs, sector-specific levies on steel, autos, and semiconductors, and broader measures targeting supply chains have all roiled Korean industries, which depend heavily on the American market.

    South Korean President Lee Jae-myung, who assumed office in June, is confronting what he called a "tangled web of overlapping crises." President Lee faces the challenge of countering Washington’s economic pressure while protecting South Korea’s priorities of economic growth and military alliance stability. The stakes are high, with May data already showing an 8.1% year-on-year decline in Korean exports to the US—a direct reflection of the new trade barriers. Major conglomerates including Samsung, LG, and SK have warned employees of increased risks when conducting business in the US, and the business climate is increasingly fraught.

    Economic analysts at the Korea Development Institute recently cut their forecast for South Korea’s 2025 growth to under 1%, underlining the significant economic headwinds brought on by Trump’s trade policies. With no sign yet of relief or a new bilateral trade deal, the coming weeks will be pivotal for exporters and policymakers on both sides.

    Listeners, thanks for tuning in to the South Korea Tariff News and Tracker. Don’t forget to subscribe so you never miss an update on this fast-evolving story.

    This has been a Quiet Please production, for more check out quietplease 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 min

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