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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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  • US-Korea Trade Tensions Escalate: 25% Tariffs Loom as Deadline Approaches with Potential Global Economic Impact

    US-Korea Trade Tensions Escalate: 25% Tariffs Loom as Deadline Approaches with Potential Global Economic Impact
    2025/07/21
    Welcome to the latest edition of the South Korea Tariff News and Tracker.

    Listeners, as of July 21, 2025, high-stakes negotiations are in full swing between South Korea and the United States, with a stark August 1 deadline looming for the imposition of sweeping new U.S. tariffs on Korean exports. The Trump administration has confirmed that a 25 percent tariff rate will take effect for South Korea starting next month unless a deal is reached, a drastic measure impacting roughly $140 billion in goods. U.S. Secretary of Commerce Howard Lutnick stated on CBS that this 25 percent rate applies to major economies such as Korea, Japan, and the EU, reflecting a retreat from President Trump’s earlier suggestion of even higher basic tariffs. However, Lutnick left room for further negotiation even after the deadline, mentioning "Aug. 1 is a hard deadline," but communication could continue.

    In response, South Korea has mobilized an all-out diplomatic and economic effort. The country’s new Industry Minister Kim Jung-kwan described the situation as very serious, confirming that officials from trade, finance, and foreign affairs are traveling to Washington in a bid to secure the "best possible" outcome. Key negotiators, including National Security Adviser Wi Sung-lac, are holding meetings with U.S. Secretary of State Marco Rubio and other top officials to hammer out a compromise. Wi outlined his goal as "lowering the tariffs a few percentage points" if possible, signaling Seoul’s determination to soften the economic blow.

    At stake are South Korea’s powerhouse exports—automobiles, semiconductors, steel, and tech devices—which face heightened risks of profit erosion and disrupted supply chains if the tariffs are enacted. Automakers like Hyundai and Kia, which exported $34.7 billion in vehicles to the U.S. last year, are bracing for the potential fallout, while the broader won currency has slid toward 1,400 to the dollar as investors react to uncertainty.

    The Trump administration argues these tariffs are necessary for trade reciprocity, to address perceived imbalances and protect U.S. industry. South Korea, however, is pushing back, arguing for a package deal that would address not only trade issues but also defense cost-sharing. Seoul is also signaling intent to gradually raise its defense spending, though it cannot meet Trump’s demands immediately.

    If a trade deal is reached in time, firms with U.S. operations, especially in automotive and electronics, may weather the disruption and potentially benefit from the realignment of supply chains. If talks fail, markets expect volatility, with additional pain likely for Korea’s export-reliant sectors and potential spillover impacts on inflation and foreign exchange.

    The coming days will be decisive, with both governments under immense pressure to resolve—either by reaching an agreement or triggering a significant new phase in trade relations. As always, we’ll track every major development so you’re the first to know.

    Thanks for tuning in—don’t forget to subscribe to South Korea Tariff News and Tracker. 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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  • US Pressures South Korea with 25 Percent Tariff Threat as Diplomatic Negotiations Intensify Before August 1 Deadline

    US Pressures South Korea with 25 Percent Tariff Threat as Diplomatic Negotiations Intensify Before August 1 Deadline
    2025/07/20
    Listeners, welcome to your latest update from the South Korea Tariff News and Tracker podcast.

    The big headline today is the mounting pressure as the United States under President Donald Trump has set an August 1 deadline to impose 25 percent tariffs on all South Korean imports unless a deal is struck. This followed official letters sent by Trump to both South Korea and Japan, making clear that the tariffs would take effect unless what the Trump administration calls unfair trade practices and non-tariff barriers are dismantled. This marks the highest tension in Korea-US trade talks since the Trump administration returned to the White House, and the clock is ticking as there are now less than two weeks to find a resolution, according to The Korea Times and AsiaLink.

    National Security Adviser Wi Sung-lac has now departed for Washington for urgent eleventh-hour negotiations. According to the Korea JoongAng Daily, Wi plans to meet a wide range of American officials to push for progress, building on recent closed-door talks he held with US Secretary of State and National Security Adviser Marco Rubio. The hope is that this renewed diplomatic push could revive or even expand the “two plus two” format that once involved finance and trade ministries from both sides. High-level discussions are now focusing not only on tariff rates, but on wider economic and security cooperation, including currency policy, investment, digital platform regulations, and greater US market access for agricultural and automotive goods.

    On the Korean side, efforts are increasing as Finance Minister Koo Yun-cheol and Foreign Minister Cho Hyun plan their own trips to Washington to join the negotiations. President Lee Jae-myung has been working behind the scenes, hosting leaders of major Korean conglomerates like Hyundai and LG to consult on global trade and investment strategies. Acting US ambassador to Korea Joseph Yun suggested this week there may also be broader Free Trade Agreement talks coming, as both sides look to avoid a trade war and reach at minimum a basic framework for a longer negotiation, as reported by The Business Standard.

    Former US assistant secretary of state Daniel Krittenbrink, speaking with Maekyung, advised that South Korea’s best course is to push negotiations vigorously. He emphasized that President Trump, as a self-proclaimed deal maker, responds positively to visible flexibility and alliance-building from partners, while warning that postponing action could backfire. South Korea remains the number one foreign direct investor into the US, and experts believe that continued cooperation—especially in supply chains and new US-bound investment—should be front and center as talks continue.

    For listeners wanting to track tariff rates, the critical figure right now is that proposed 25 percent blanket tariff on all South Korean imports, set to go into effect August 1, unless negotiators can find compromise or secure a deal.

    Thanks for tuning in. Please remember to subscribe for the latest tariff headlines and in-depth analysis. 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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    4 分
  • US Set to Impose 25 Percent Tariffs on South Korean Exports Amid Tense Negotiations and Potential Economic Fallout

    US Set to Impose 25 Percent Tariffs on South Korean Exports Amid Tense Negotiations and Potential Economic Fallout
    2025/07/18
    Welcome to South Korea Tariff News and Tracker, your essential update for everything listeners need to know about the evolving tariff landscape between the United States and South Korea.

    With just two weeks until sweeping new U.S. tariffs are set to take effect, tensions are running high. U.S. President Donald Trump has sent a formal letter to President Lee Jae Myung of South Korea stating that, starting August 1, all Korean exports to the U.S. will face a 25 percent tariff. Trump further warned that if South Korea retaliates with increased tariffs on U.S. goods, the tariff rate could be raised even higher. The Trump administration’s approach, described by experts as “chaotic and unpredictable,” makes for a particularly volatile trade environment. Michael Beeman, former assistant U.S. trade representative for Korea and Japan, said on a recent Korea Economic Institute podcast that South Korea may be able to negotiate a reduction in the tariff rate, potentially to the 15 to 18 percent range, but this would still represent a major hurdle for some of Korea’s top export sectors, such as automotive and steel.

    South Korea’s new administration is in high-stakes negotiations, sending delegations to Washington and leaning on a comprehensive strategy. Cho Hyun, foreign minister nominee, expressed optimism about reaching a “win-win agreement” with the United States before the deadline. He pointed to the possibility of offsetting tariffs by expanding bilateral cooperation on shipbuilding and nuclear energy, and highlighted that the U.S. sees South Korea as both a critical ally and a major trade partner.

    However, the negotiations aren’t confined to tariffs alone. Tensions have also surfaced around Korea’s proposed regulation of large online platforms, which Washington views as a non-tariff trade barrier. The U.S. is pressing Seoul to drop its tough new rules targeting Big Tech, adding another layer of complexity to the discussions.

    On the table for negotiations are sensitive issues involving market access for U.S. agricultural products such as beef, potatoes, and peaches. Currently, South Korea maintains a steep 513 percent tariff on rice, and is now considering whether to loosen import conditions for these and other goods as a bargaining chip. Trade authorities are moving quickly to finalize the list of imports South Korea might offer in exchange for relief on U.S. tariffs.

    With the U.S. effective tariff rate on imports set to jump from 14.1 percent to 19.4 percent after August 1, these negotiations carry significant implications for both economies.

    Thanks for tuning in to South Korea Tariff News and Tracker. Don’t forget to subscribe for all the latest updates. 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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