Donald Trump, the U.S. president, announced on the 14th (local time) that he plans to impose tariffs on automobiles imported into the United States.
During the signing ceremony for an executive order held at the White House, President Trump responded to reporters' questions about the schedule for introducing import automobile tariffs, saying, "Perhaps around April 2." He mentioned that he might impose the tariffs on April 1 (April Fool's Day) but said he tends to believe in superstitions, reiterating that he plans to do it on April 2.
However, it is unclear whether April 2 mentioned by President Trump is the point at which the automobile tariffs will take effect or the date on which he will announce the plan. The day before, President Trump had revealed various tariff imposition plans, stating that they would not be implemented immediately but would be enacted after a certain preparation period.
As President Trump indicated that he would consider imposing tariffs on automobiles, semiconductors, and pharmaceuticals, the specific announcement regarding automobile tariffs is expected to introduce variables to South Korea's exports of vehicles to the U.S. Since 2016, the U.S. has applied no tariffs on South Korean passenger cars, including electric vehicles, under the Korea-U.S. Free Trade Agreement (FTA).
Last year, South Korea's total automobile export volume was approximately $70.789 billion, with exports to the U.S. accounting for $34.744 billion, making up 49.1% of the total. Automobiles are South Korea's top export item to the U.S., and as of 2023, South Korea ranks fourth in automobile exports to the U.S., following Mexico, Japan, and Canada.
Earlier, on the 4th, President Trump imposed an additional 10% tariff on China and announced on the 10th that a 25% tariff would be imposed on steel and aluminum products without exceptions or exemptions starting from the 12th. On the 13th, he announced mutual tariff imposition plans, signaling a trade war to the world.