Anchor: U.S. President Donald Trump said Tuesday that he is considering slapping an additional ten percent tariff on Chinese imports as early as next month. Economics experts told KBS World Radio News that South Korea’s export-driven economy is vulnerable to trade tensions between the world’s two largest economies and called for swift measures to minimize damage.
Kim Bum-soo has more. 

Report: 

[Sound bite: U.S. President Donald Trump]
“We’re talking about a tariff of ten percent on China based on the fact that they’re sending fentanyl to Mexico and Canada.”

Speaking to reporters at the White House a day after being sworn in, U.S. President Donald Trump said his team is considering a ten percent tariff on China.

[Sound bite: U.S. President Donald Trump]
(Reporter: How soon on those tariffs?)
“Probably February 1 is the date we’re looking at.”

During his campaign in 2024, Trump had threatened to charge tariffs upward of 60 percent on goods from China. 

According to government data from last year, about 40 percent of South Korea’s exports are shipped to the U.S. and China. 

Economics professor Yang Jun-sok at the Catholic University of Korea says the looming trade dispute between the United States and China poses a concern for the export-driven South Korean economy.

[Sound bite: Prof. Yang Jun-sok - Economics Dept., Catholic Univ. of Korea]
"About 18 to 20 percent of Korea’s exports go to China, and about half of that exports are used as intermediate parts to exports to other countries, including the U.S. So, if exports to China falls, then obviously China will need less intermediate parts from Korea, and that will affect Korean exports as well.”

He said South Korea should focus on kick-starting the economy by boosting domestic consumption, at least for this year. 

[Sound bite: Prof. Yang Jun-sok - Economics Dept., Catholic Univ. of Korea]
“Korean exports may not fall as much as people fear. It will fall, but not as much as people fear because the U.S. does not really have that much of production in a lot of products, especially semiconductors. So even if they raise tariffs, they may still have to buy from Korea anyway, and if they are not going to buy from China, then alternate sourcing may involve Korea. I wouldn’t say this will increase Korea’s exports, but the reduction may not be as bad as feared.”

During a ministerial meeting Wednesday, acting President Choi Sang-mok warned that South Korea’s exports may be adversely affected in the wake of Trump’s return to the White House. 

The acting president said the government will closely analyze the impact of the Trump administration’s energy policies, including the decision to eliminate electric vehicle subsidies, and will respond swiftly.
Kim Bum-soo, KBS World Radio News.