US yet to cut tariffs on Korean imports to 15%

South Korea’s largest automakers look continued unit connected earnings, with the US yet to travel done connected an statement reached astatine the extremity of October to chopped tariffs connected South Korean imports to 15%. Hyundai Motor and Kia Corporation, which trust heavy connected exports to the US, reported crisp net declines successful the past 2 quarters of the year, blaming these mostly connected the 25% import duties introduced by the US authorities successful April.

US President Donald Trump and South Korean President Lee Jae Myung met connected the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit successful South Korea astatine the extremity of October 2025, wherever they announced a tentative commercialized statement aft their teams of negotiators ironed retired immoderate of the cardinal outstanding issues, including South Korea’s committedness to investing US$350 cardinal successful the US.

South Korea’s 3 largest automakers, Hyundai, Kia, and GM Korea, exported much than 1.5 cardinal vehicles to the US combined past year, worthy immoderate US$ 38 billion. While Hyundai and Kia person vowed to proceed to grow accumulation capableness and section sourcing successful the US, pursuing the opening of a caller conveyance accumulation works successful the US authorities of Georgia a twelvemonth ago, they assertion to beryllium disadvantaged successful the US marketplace compared with European and Japanese automakers, which present incur import duties of 15%.

There is increasing interest that GM whitethorn propulsion retired altogether from South Korea, wherever it produced immoderate 500,000 vehicles past year, if its products go uncompetitive successful the US market. GM Korea is understood to person shipped astir 80% of its output to the US past year.

Industry observers successful South Korea person confirmed that the US has yet to travel done connected the statement by cutting duties connected South Korean imports from 25%, and are calling connected the Trump medication to chopped tariffs to 15% retrospectively starting from 1 November.

"US yet to chopped tariffs connected Korean imports to 15%" was primitively created and published by Just Auto, a GlobalData owned brand.

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