South Korea unveils US$2 billion emergency help for carmakers after Trump tariff blow

From channelnewsasia.com

South Korea on Wednesday unveiled a US$2 billion emergency support package for its crucial export-focused carmakers, warning US President Donald Trump's 25 per cent tariffs on the sector could be a "significant blow". "Given that automobiles and auto parts are South Korea's top exports to the US, the decision to impose a 25 per cent tariff on these items is expected to deliver a significant blow to our auto industry," the government said in a statement announcing the support measures. Last week, Trump announced sweeping and punitive tariffs against the United States' biggest trading partners, the most severe of which ... (full story)