WASHINGTON: US President Donald Trump will unveil tariffs on imported cars on April 2, a move that could hit South Korea’s auto industry, Yonhap reported.
Trump, who has used tariffs to shrink the trade deficit and boost domestic manufacturing, hinted at the announcement during a meeting.
“We’re going to do it on April 2, I think. Is that right?” he asked an aide, who confirmed.
South Korea, Asia’s fourth-largest economy, could be a key target, with its trade surplus with the US hitting US$55.7 billion last year.
The US remains its top auto export market, accounting for US$34.7 billion (49.1 per cent) of total car exports in 2024.
Under a 2016 free trade pact, South Korean cars have been exempt from US tariffs.
The announcement follows Trump’s 25 per cent tariffs on steel and aluminum and discussions on new levies for chips and pharmaceuticals.
Meanwhile, South Korean Foreign Minister Cho Tae-yul plans to address the issue with US Secretary of State Marco Rubio at a Munich security forum this weekend.
Concerns in Seoul are mounting, especially as political uncertainty lingers after President Yoon Suk Yeol’s impeachment over a martial law attempt in December. – BERNAMA
