Now In Korea

Trump to Impose 25% Tariff on Foreign-made Cars, Impacting South Korean Exports

Creatrip Team

a year ago

Starting from next month, Trump has announced a 25% tariff on all foreign-made cars. This decision is expected to heavily impact South Korea, as cars represent a significant portion of its exports to the US. Last year, South Korea exported cars worth 51 trillion Korean won ($43 billion), accounting for 49.1% of global car exports. This tariff could pose a significant economic challenge for the country.

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