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S Korea to seek tariff solution
April 24, 2025
|Cape Times
SEOUL: South Korea's Industry Minister Ahn Duk-geun said yesterday that Seoul would seek a speedy solution over auto tariffs in trade talks with US counterparts, and was also prepared for the prospect of Washington bringing up the issue of defence costs.
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US ally South Korea is due to hold trade talks in Washington today after the US introduced 10% blanket tariffs and 25% auto and steel tariffs.
Reciprocal 25% tariffs on South Korea have currently been paused for 90 days.
“We are preparing for negotiations calmly and carefully. However, in the case of automobiles that are heavily hit by 25% tariffs now, we plan to do our best to come up with a solution as soon as possible,” Ahn said before boarding a flight to Washington.
South Korea's overall exports for the first 20 days of April fell 5.2% from a year earlier, dragged down by US-bound shipments. Exports of automobiles fell 6.5%, and auto parts dropped 1.7%.
هذه القصة من طبعة April 24, 2025 من Cape Times.
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