Photo : KBS News
U.S. President Donald Trump said he is placing 25 percent tariffs on automotive imports. Trump on Wednesday signed an executive order imposing a 25 percent tariff on all cars and light duty trucks imported into the U.S. beginning April 2. At a press conference at the White House, Trump said that he will impose 25 percent tariffs for all cars that are not made in the United States. This is the second time that Trump imposed tariffs on individual items since taking office in January, following the 25 percent tariffs on steel and aluminum imports on March 12. The latest tariffs are feared to deal with a significant blow to South Korea, as automobiles account for the largest share of its exports to the United States.
Last year, South Korea's auto exports to the U.S. exceeded 50 trillion won, accounting for nearly half of its global auto export of 70-point-eight billion dollars, or 104 trillion won.