Minister Anduk-geun of the Ministry of Trade, Industry and Energy attends an emergency countermeasure meeting with the public and private sectors on tariffs imposed on automobiles held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul on Nov. 27. The meeting is organized after U.S. President Donald Trump announces plans to impose a 25% tariff on imported foreign cars, including those from our country, starting on April 3. /Courtesy of News1

Minister An Deok-geun of the Ministry of Trade, Industry and Energy said, “We will prepare and announce an emergency plan for the automobile industry in April.”

The U.S. government announced the day before (local time) that it would impose a tariff of 25% on imported cars and key automotive parts at 5 p.m. The U.S. plans to impose tariffs on automobiles starting on the 3rd of next month and on automotive parts starting on May 3. The items subject to the tariff include cars, light trucks, engines, transmissions, and other core components.

The U.S. government announced the day before (local time) that it would impose a tariff of 25% on imported cars and key automotive parts. The U.S. plans to impose tariffs on automobiles starting on the 3rd of next month and on automotive parts starting on May 3. The items subject to the tariff include cars, light trucks, engines, transmissions, and other core components.

The decision to impose tariffs by Trump is expected to significantly impact South Korea. Automobiles are the top export item from Korea to the U.S. Last year, South Korea's automobile exports to the U.S. amounted to $34.744 billion, accounting for 27% of the total exports to the U.S.

The government plans to continue working closely with the industry to strengthen response measures while actively consulting with the U.S. government to minimize damage to our industry.