FX.co ★ South Korea Weighs U.S. Tariff Cut on Japanese Autos

South Korea is currently assessing the implications of U.S. President Donald Trump's recent decision to sign an order, enabling the implementation of Japan's trade agreement that includes a reduced 15% tariff on automobiles imported into the United States. According to a Seoul trade official, this development was announced on Friday. The reduced tariffs on Japanese vehicles are slated to come into effect seven days following the order's publication. This action places South Korean automakers at a competitive disadvantage compared to their Japanese counterparts, as U.S. tariffs on South Korean auto imports remain fixed at 25%. The South Korean trade ministry has emphasized that safeguarding the auto industry is a priority, given its significant contribution to exports and employment.