South Korean media: "25% is not enough"? Trump may further increase auto tariffs!
On April 25, the South Korean newspaper "The Korea Times" published an article stating that U.S. President Donald Trump said that he might further increase the current 25% tariff on imported cars and key components.
Trump mentioned trade relations with Canada when signing an executive order at the White House on the local time of the 23rd, saying, "They have taken away a lot of American manufacturing, especially in the automotive sector. Mexico has also taken away a lot. Now I want to bring factories back to the United States." He also added, "Canada currently bears a 25% tariff, but it may be raised to a higher level in the automotive sector."
When asked again about the possibility of adjusting car and parts tariffs, President Trump said, "We are not considering this issue right now," but also retained the possibility of "tariffs possibly being increased at some point." He added, "We want to produce our own cars. We now have such an environment, and we hope to manufacture cars in the United States."
The U.S. began imposing a 25% tariff on all imported cars earlier this month and plans to soon impose tariffs on major car parts such as engines, transmissions, and powertrains.
Andun Gun, Minister of Trade, Industry and Energy of South Korea, who visited Washington to discuss the tariff issue, stated, "High auto tariffs will have a serious impact on South Korea's exports to the U.S. We will continue to consult with the U.S. side to solve the problem as soon as possible."
Original article: https://www.toutiao.com/article/1830383704878144/
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