S. Korea sees sharpest tariff hike among major countries on exports to U.S. in Q2
SEOUL, Sept. 21 (Yonhap) -- South Korea saw the steepest hike in tariffs imposed on its exports to the United States among major trading partners of the U.S. in the second quarter of 2025, data showed Sunday, following Washington's new trade policy.
According to a report released by the Korea Chamber of Commerce & Industry (KCCI), tariffs on South Korean exports to the U.S. during the April-June period soared 47-fold from the fourth quarter of 2024, just before the launch of the Donald Trump administration.
The figure far outpaced Canada's 19.5-fold jump and Mexico's 17.8-fold increase over the same period, the KCCI added.
China, on the other hand, saw its tariff burden rise only twofold, as Beijing had already faced high tariffs on electric cars, batteries and chips under the former Joe Biden administration.
In terms of tariff volume, South Korea ranked sixth with US$3.3 billion paid in the second quarter alone.
China topped the list with $25.93 billion, followed by Mexico at $5.52 billion, Japan $4.78 billion, Germany $3.57 billion and Vietnam $3.34 billion.
South Korea had enjoyed zero tariffs on most products under its bilateral free trade agreement with the U.S. before the Trump administration imposed a universal tariff of 10 percent, along with separate tariffs on key items, including automobiles and steel.
By sector, automobiles and related parts accounted for $1.9 billion, or 57.5 percent, of South Korea's tariff burden in exports to the U.S.
Washington began imposing 25 percent tariffs on automobiles and parts in April and May, respectively.
The effective tariff rate, defined as the customs duty relative to exports, stood at 10 percent in the second quarter for South Korea, ranking third after China' 39.5 percent and Japan's 12.5 percent.
"Amid the challenging environment in which South Korean companies must adapt to new trade rules, the government needs to focus on easing their burden and helping them avoid falling behind, instead of adding new ones," the KCCI said in its report.
colin@yna.co.kr
(END)
