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South Korea’s Export Growth Moderates Amid Tariff Concerns
South Korea’s Export Growth Moderates Amid Tariff Concerns
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BTCCSquare news:
South Korea’s exports ROSE 1.3% in August year-over-year, a slowdown from July’s 5.8% surge. Adjusted for working days, shipments grew 5.8%, while imports fell 4%, resulting in a $6.5 billion trade surplus. The Bank of Korea warns that new semiconductor tariffs could dent future export momentum, particularly to the U.S.
Manufacturers narrowly avoided a 25% U.S. tariff in July, but a 15% levy still disrupts longstanding trade terms. Governor Rhee Chang Yong noted stronger-than-expected exports in semiconductors and autos, lifting GDP forecasts by 0.2%. Yet, he cautioned that tariff impacts may intensify, weighing on trade, markets, and business confidence.
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