03.04.202503:50:57UTC+00South Korea Launches Emergency Measures to Counter U.S. Tariffs

On Thursday, South Korea unveiled "emergency support measures" for sectors such as the automobile industry as a countermeasure against the newly imposed U.S. tariffs. Acting President Han Duck-soo emphasized the urgent need to harness all available government resources to navigate the escalating global trade disputes. Officials in Seoul are expected to evaluate the repercussions of U.S. tariffs on both financial and foreign exchange markets and are planning strategic dialogues with Washington. The 25% reciprocal tariff imposed by President Trump on South Korean goods intensifies the strain on the nation's export-reliant economy, which is already grappling with domestic political issues and a deceleration in growth. Moreover, a separate 25% tariff on U.S. imports of autos and automobile components is soon due to take effect, significantly jeopardizing South Korean export activities.