South Korean Exports Dip Amid US Tariff Uncertainty
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South Korea’s exports fell 1.3% in May, a milder decline than the 2.4% drop economists anticipated. The trade surplus widened to $6.9 billion as imports slid 5.3%. Auto exports dropped 4.4%, while semiconductor shipments surged 21.2%.
The TRUMP administration’s 25% tariff on Korean goods—temporarily reduced to 10%—looms over trade relations. Samsung Electronics faces potential expansion of duties to mobile phones. Seoul’s incoming leadership must prioritize tariff negotiations, though progress remains stalled amid political transitions.
Legal challenges cloud the tariff’s implementation, with a US appeals court pausing a ruling that could dismantle Trump’s trade strategy. The administration maintains duties will persist in some form.
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