April 2, 2025
Commerce Department imposes 25% duties on Samsung and LG imports
Samsung and LG face 25% tariffs plus Vietnamese production penalties
🛡️National Security📋Public Policy💰Economy
On Apr. 2, 2025, President Donald Trump imposed a 25% tariff on South Korean goods, overriding the existing Korea-U.S. Free Trade Agreement (Reuters)
Trump simultaneously applied a 46% duty on imports from Vietnam, affecting South Korean firms with production bases there such as Samsung Electronics and LG Electronics (Reuters)
Semiconductors, automobiles and auto parts accounted for 42% of South Korea’s total exports to the United States, heightening the economy’s exposure to the new tariffs (Reuters)
Citi estimated that the combined impact of the Apr. 2 tariffs could shave 0.16% off South Korea’s GDP this year, putting its 1.0% growth forecast at risk (Reuters)
🛡️National Security📋Public Policy💰Economy
Test Your Knowledge
10
Q1
Which Korean companies were specifically mentioned as having manufacturing bases in Vietnam?
Q2
What percentage tariff did Trump impose on South Korean goods?
Q3
What percentage tariff did Trump impose on Vietnam, affecting Korean companies with operations there?
Q4
The Constitutional Court was scheduled to rule on what regarding President Yoon Suk Yeol?
Q5
South Korea initially chose to retaliate with counter-tariffs against the United States.
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Start QuizPeople, bills, and sources
Donald Trump (President of the United States)
announced reciprocal 25% tariffs on South Korean goods and 46% tariffs on Vietnamese imports on Apr. 2, 2025
Han Duck-soo (Acting President of South Korea)
on Apr. 2, 2025 called for emergency talks with U.S. officials and ordered support measures for export-reliant businesses
Paik Seok-hyun (Economist, Shinhan Bank)
stated the new U.S. tariffs “practically nullified the Korea-U.S. Free Trade Agreement” (Reuters)
Lee Yong-ho (CEO, AIT)
reported his aluminium auto-parts firm has faced extra costs since a 25% U.S. aluminium tariff took effect in Mar. 2025 and likened Korea’s situation to “a ship without a captain” (Reuters)