Us Korea Trade News - Latest Updates & Headlines
Suppliers scramble to respond to looming US auto parts tariffs
Seoul, April 11: South Korean auto parts suppliers are scrambling to respond to new US tariffs on imported vehicles and automotive parts, industry insiders said on Friday, arguing the tariffs not only pose a serious challenge to automakers, including local industry leader Hyundai Motor Group, but also threaten to disrupt the broader industry supply chain.
S. Korea set to inject $2 billion in emergency aid for tariff-hit car industry
Seoul, April 6: The South Korean government plans to inject 3 trillion won ($2 billion) in emergency aid into the local car industry to cushion the blow from new 25 percent US tariffs, officials said on Sunday.
S. Korea needs greater US energy imports, other bargaining chips for Trump tariff negotiations
Seoul, March 6: Facing US President Donald Trump's imminent sweeping tariff scheme and mounting pressure on a range of industries and the economy, South Korea needs to boost its imports of American energy and highlight room for cooperation in areas crucial to the US as leverage in possible negotiations, experts said on Thursday.
South Korea reaffirms effective tariff rate on US imports remains close to zero
Seoul, March 5: The South Korean government on Wednesday reaffirmed the country's average tariff rate on US imports stands at less than 1 per cent under its bilateral free trade agreement (FTA) with the United States, with the rate scheduled to drop further this year.
Corporate investment, ties in strategic industries keys to negotiation on US tariffs
Seoul, Feb 14: South Korea must bring "bargaining chips" to the negotiation table with the United States, such as new investments in the US and bilateral cooperation in key strategic industries, to minimise the possible impact of "America First" trade policies and U.S. tariff hikes, local trade experts stressed here on Friday.
Impact of Trump's 'reciprocal' tariffs may be limited due to FTA: South Korea
Seoul, Feb 14: Acting President Choi Sang-mok said on Friday that the impact of US President Donald Trump's latest "reciprocal" tariffs may not significantly affect South Korea's economy, yet emphasised the need for continued monitoring.
South Korea reviews measures amid new Trump tariff plan
Seoul, Feb 10: Acting President Choi Sang-mok on Monday discussed measures to address the impact on South Korea's steel and related industries following US President Donald Trump's announcement of new tariffs, his office said.