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South Korea Tariff News and Tracker

South Korea Tariff News and Tracker

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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-South Korea Trade Tensions Escalate: Steep Tariffs on Steel and Autos Spark Economic Confrontation and Diplomatic Challenges

    US-South Korea Trade Tensions Escalate: Steep Tariffs on Steel and Autos Spark Economic Confrontation and Diplomatic Challenges
    Oct 10 2025
    South Korea finds itself at the heart of a tense and consequential trade negotiation with the United States this October, as listeners will want to track not only headlines but the true impact of unfolding tariff policy. According to AOL News, the latest formal agreement sets a 15 percent tariff on South Korean imports into the U.S.—up significantly from previous rates, and notably, there is no reciprocal tariff on U.S. goods entering the Korean market.

    Negotiations have remained deadlocked throughout the summer and fall, with the Trump administration pressing Seoul to commit $350 billion, largely in cash, as part of a broader $600 billion investment and purchase package. South Korea, led by President Lee Jae Myung, has insisted on terms more favorable to its own liquidity and currency stability, including a currency swap agreement rather than a cash outlay. According to Truthout, the investment and tariff package comes alongside additional pressure for South Korea to purchase $100 billion in U.S. liquefied natural gas and pour $150 billion into shipyard and manufacturing cooperation, all tied to hopes from President Trump to revitalize American shipbuilding under his MASGA initiative.

    Listeners should know that sector-based tariffs are hitting hardest in steel and autos. Posco and Hyundai Steel, South Korea's leading steelmakers, are projected to pay $281 million in U.S. tariffs from March to December this year, which is termed by Maeil Business News Korea as roughly equivalent to their quarterly operating profits. In July, tariff rates on steel exports to the U.S. jumped to 50 percent, and the Korea Iron and Steel Association expects an ongoing decline in export volume.

    On the political front, Trump's assertive stance is described by Korean labor unions and the minority Progressive Party as humiliating and "an act of plunder," reflecting broad dissatisfaction with what many see as one-sided negotiations. Public and business sector resistance, including strikes and major opposition rallies, have cast doubt on the longevity of the current arrangement. Still, according to Chosun Ilbo, both governments remain hopeful to advance talks at an upcoming summit in Gyeongju later this month, even as officials concede a breakthrough seems unlikely before the Asia-Pacific Economic Cooperation Leaders’ Meeting.

    Pharmaceuticals are a bright spot for Korean exporters this week. The Korea JoongAng Daily reports that, despite Trump’s threats of broad pharmaceutical tariffs, generic drugs, which make up 90 percent of U.S. prescriptions, are set to be exempt from new duties—a relief for Korea’s $1.49 billion pharma exports to the U.S.

    As listeners track South Korea’s evolving tariff landscape, expect continued volatility and headline developments, including possible visits by President Trump to Korean shipyards and further calls for domestic policy unity. For timely coverage and ongoing analysis, be sure to tune in next time and subscribe to South Korea Tariff News and Tracker.

    Thank you for tuning in, don’t forget to subscribe.

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    4 m
  • U.S. Tariffs Slam South Korean Exports: Steel Autos Beauty Goods Suffer as Trade Tensions Escalate in 2025

    U.S. Tariffs Slam South Korean Exports: Steel Autos Beauty Goods Suffer as Trade Tensions Escalate in 2025
    Oct 8 2025
    Listeners, welcome to South Korea Tariff News and Tracker, where today’s headlines highlight the ongoing turmoil created by recent U.S. tariffs and the evolving relationship between Washington and Seoul.

    The Trump administration’s tariff policies have hit South Korean exporters hard in 2025. According to Maeil Business Newspaper, as of April and May this year, U.S. tariffs were hiked to 25% on automobiles and parts and up to 50% on steel and aluminum, core export sectors for South Korea. These sharp increases directly cut Korea’s export volumes: August exports to the U.S. dropped 12% year-on-year, with steel and automobile shipments falling 15% and 2% respectively. As a result, South Korea’s standing as a U.S. import source eroded, dropping from seventh in 2024 to tenth this year—the lowest rank since 1988.

    In response to tariff pressures, Seoul’s trade deficit with the U.S. narrowed by 9%, but at the expense of broad export contraction and reduced market share. Meanwhile, Taiwan, Ireland, and Switzerland have overtaken Korea in the U.S. import rankings, with Taiwan particularly benefiting as its key exports, like semiconductors, face fewer direct tariff penalties.

    Meanwhile, the negotiations over a massive $350 billion investment package demanded by Washington remain tense. South Korean Foreign Minister Cho Hyun, speaking with JoongAng Sunday, cautioned that domestic criticism of the deal is not anti-Americanism but a reflection of the urgent need to safeguard national interests. Seoul insists that any agreement burdening citizens must be ratified by its National Assembly, rejecting backroom negotiations and keeping commercial reasonability at the forefront. Both sides are engaged in a complicated give-and-take, with hopes of finalizing an accord before the Asia-Pacific Economic Cooperation summit at the end of October.

    Tariffs aren’t limited to heavy industry. U.S. duties on Korean consumer goods, including beauty products, are also moving upwards: the White House recently set tariffs at 15% on popular cosmetics, higher than the baseline but below the originally proposed 25%, according to AOL News. This means listeners can expect to pay more for trending K-beauty items—a sector booming in 2024, with $1.7 billion in U.S. imports—but the higher costs likely won’t halt demand among enthusiasts.

    President Donald Trump is set to visit South Korea ahead of the APEC Summit in Gyeongju, where further trade talks are expected. On the sidelines, both countries are feeling pressure from China’s regional strength, the EU’s doubling of steel tariffs, and shifting global trade patterns.

    That’s it for today’s South Korea Tariff News and Tracker. Thanks for tuning in—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/

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    This content was created in partnership and with the help of Artificial Intelligence AI
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    3 m
  • US-Korea Trade Talks Advance: Minister Kim Signals Progress on Tariffs and Investment Deal in Crucial Negotiations

    US-Korea Trade Talks Advance: Minister Kim Signals Progress on Tariffs and Investment Deal in Crucial Negotiations
    Oct 6 2025
    Welcome to the South Korea Tariff News and Tracker. Today brings significant developments in the ongoing trade negotiations between Seoul and Washington as South Korean Industry Minister Kim Jung-kwan returns from crucial talks in New York.

    According to multiple Korean media outlets, Kim met with US Commerce Secretary Howard Lutnick over the weekend, marking the latest attempt to finalize a stalled trade deal that could dramatically impact Korean businesses. The Korea Times reports that both sides have reached what Kim described as a "considerable level of understanding" regarding South Korea's foreign exchange market concerns.

    At the heart of these negotiations is a massive 350 billion dollar investment package that South Korea committed to in July. In exchange, the United States agreed to reduce tariffs on Korean products from 25 percent down to 15 percent. However, listeners should note that unlike Japan, which has already documented its similar deal, South Korea has yet to sign a formal memorandum of understanding due to ongoing disagreements over investment structure and profit-sharing arrangements.

    The Maeil Business reports that Seoul is particularly concerned about potential instability in its foreign exchange market from such large-scale US investments. South Korea has been pushing for a currency swap arrangement as a safety net, and Kim indicated that Washington now understands these concerns, stating there was consensus on the sensitivity of Korea's foreign exchange market.

    Currently, Korean exporters are feeling the pressure from Trump's universal tariff policies. The automobile industry faces particularly harsh treatment with targeted 25 percent tariffs that have yet to be reduced to the promised 15 percent rate. The Korea JoongAng Daily highlights that major Korean automakers like Hyundai are operating under these adverse circumstances, with additional strain from recent immigration crackdowns affecting Korean workers at US facilities.

    Minister Kim expressed optimism about continued progress, telling reporters at Incheon International Airport that he expects to meet with Lutnick again soon, likely before President Trump's visit to Gyeongju for the APEC summit later this month. The urgency is clear as both nations work to resolve these trade tensions before the high-profile international gathering.

    The stakes remain high for Korean businesses as they navigate these uncertain waters while hoping for a breakthrough in the coming weeks.

    Thank you for tuning in to South Korea Tariff News and Tracker. Make sure to subscribe for the latest updates on these critical trade developments. This has been a Quiet Please production, for more check out quietplease.ai.

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

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

    This content was created in partnership and with the help of Artificial Intelligence AI
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    3 m
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