In response to the U.S. President’s announcement to impose a 25% tariff on imported foreign cars, the South Korean government plans to unveil emergency measures for the auto industry next month. The Ministry of Trade, Industry and Energy held an emergency meeting, attended by high-ranking government officials and representatives from major auto companies, to discuss the impact on and response measures for the Korean auto and auto parts industry. The U.S. tariff measure is expected to significantly impact South Korea’s auto exports to the U.S., which amounted to $34.744 billion last year, nearly half of South Korea’s total auto exports.
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Auto-posted at: 2025-03-27 21:04:15