Acting South Korean President Han Duck-soo vowed Thursday to deploy sweeping support for industries reeling from what he termed a “global tariff war” initiated by the United States, as Washington imposed a 25% tariff on South Korean exports. The move, he warned, threatens to shake the country’s economic stability and demands an all-out response.
Han delivered the urgent message during a high-stakes government meeting of a newly formed task force dedicated to countering the economic blow inflicted by U.S. trade measures. “With the specter of a full-scale global tariff war looming, the government must harness every tool at its disposal to navigate this trade crisis,” Han declared, as reported by Yonhap News Agency.
US Tariff Shockwaves Hit South Korea
The tariffs, enacted Wednesday by the administration of former U.S. President Donald Trump, come as part of a sweeping effort to recalibrate global trade imbalances. According to the Office of the U.S. Trade Representative (USTR), the tariffs were set based on each country’s trade surplus with the U.S., triggering broad economic consequences worldwide.
