Trump’s Auto Tariff Plans Spark Concerns for Automakers in S. Korea l KBS WORLD

Anchor: U.S. President Donald Trump launched one other tariff plan on Friday, searching for to cost duties on all imported automobiles. The most recent announcement comes after Trump unveiled his plans to cost reciprocal tariffs and duties on metal and aluminum imports, sparking issues for automakers in South Korea. 
Kim Bum-soo has extra. 

Report: U.S. President Donald Trump says new tariffs on international automobiles could be coming as quickly as early April.

Chatting with reporters within the Oval Workplace on Friday, Trump introduced the plan, sparking issues for automakers across the globe. 

[Sound bite: U.S. President Donald Trump]
(Reporter: You talked about auto tariffs the opposite day. If you plan them to…?)
I would say over the subsequent a while, perhaps round April 2nd, I would not have accomplished them on April 1st, consider it or not, I am somewhat superstitious…”

It’s unclear whether or not the U.S. will simply announce the tariffs on April 2 or put them into impact that day.

[Sound bite: U.S. President Donald Trump]
“No, actually, we had it deliberate for April 1st. I mentioned, ‘let’s make it April, April 2nd’. You know the way a lot cash that prices? That prices some huge cash simply that sooner or later. However we’ll do it on April 2nd, I believe. Is that proper?”

Whereas particulars of the auto tariffs stay unclear, the Trump administration is engaged on calculating “reciprocal tariffs” on every nation at matching ranges of import duties charged on American items.

The Trump administration had already introduced a plan to impose 25 % tariffs on metal and aluminum imports, beginning March 12, inevitably elevating car manufacturing prices.

In line with knowledge supplied to CNBC by GlobalData, eight-point-six % of the automobiles offered within the U.S. final yr have been produced in South Korea.

Beneath the South Korea-U.S. free commerce settlement signed in 2007, the U.S.-based Common Motors and South Korea’s Hyundai and Kia export their merchandise tariff-free to the U.S.

South Korean International Minister Cho Tae-yul is planning to debate the tariff points with U.S. Secretary of State Marco Rubio once they meet on the sidelines of the Munich Safety Convention on Saturday.
Kim Bum-soo, KBS World Radio Information.