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South Korea Tariff News and Tracker

South Korea Tariff News and Tracker

著者： 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 Threatens 25 Percent Tariffs on South Korean Exports Unless New Trade Deal Reached by August 1

    Trump Threatens 25 Percent Tariffs on South Korean Exports Unless New Trade Deal Reached by August 1
    2025/07/11
    Welcome to South Korea Tariff News and Tracker, your source for the latest on trade tensions, tariff rates, and their implications for South Korea and its trading partners. As of today, July 11, 2025, tariff and trade news between the United States and South Korea has taken center stage due to significant developments from the Trump administration.

    President Trump has announced that unless a new bilateral trade agreement is secured, **South Korean exports to the United States will face a 25 percent tariff rate starting August 1**. This extension follows an earlier delay, and according to both President Trump and Treasury Secretary Scott Bessent, there will be no further postponements. The tariffs apply broadly but carry particular weight for industries like automotive, steel, and electronics, key pillars of South Korean exports. In addition, transshipments—goods routed through a third country—could face even higher tariffs depending on their country of origin.

    Trump’s use of tariffs, described as “reciprocal,” aims to incentivize reshoring U.S. manufacturing and generate revenue to support domestic initiatives. His administration argues that the current U.S.–South Korea trade arrangement is unbalanced, despite South Korea’s effective tariff rate on U.S. goods being around 0.79 percent, a figure well below the new 25 percent U.S. levy. The Korea Economic Institute of America notes that South Korea, under the U.S.–Korea Free Trade Agreement, maintains some of the lowest tariff rates among America’s major trading partners.

    The White House has issued formal letters to South Korea and other targeted countries, notably Japan, Malaysia, and Thailand, specifying new tariff rates between 25 and 40 percent. These letters, posted to President Trump’s Truth Social account, are part of what the administration calls a “tailor-made” trade strategy. Only the United Kingdom and Vietnam have recently reached agreements with the U.S. to avoid the new tariffs.

    Uncertainty also looms over possible sector-specific tariffs. Trump has publicly considered imposing additional tariffs on **semiconductors**, South Korea’s largest export by value. If enacted, this would add further pressure to South Korea’s economy, particularly as steep tariffs on steel (50 percent) and automobiles (25 percent) are already in effect. The South Korean government, for its part, is seeking to negotiate an end or reduction to these tariffs, but the Trump administration has signaled tough demands, including increased purchases of American goods and investment in U.S. manufacturing.

    As the August 1 deadline approaches, the stakes are high for South Korean industries and for global supply chains. With negotiations ongoing and no further extensions in sight, listeners should stay tuned for any last-minute breakthroughs or additional policy announcements from Washington or Seoul.

    Thanks 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 quietplease.ai.

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

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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
    2025/07/09
    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/

    Avoid ths tariff fee's and check out these deals https://amzn.to/4iaM94Q
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  • 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
    2025/07/08
    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 分

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