South Korea’s exports increased by 4.1% amid US tariff jitters
The post South Korea’s exports increased by 4.1% amid US tariff jitters appeared on BitcoinEthereumNews.com. South Korea saw its economy booming this month, with impressive results from its robust exports. This happens as the South Korean capital, Seoul, has been trying to finalize a trade deal with Washington before US President Donald Trump’s aggressive tariff policy is due to be implemented on Aug. 1. The market value of the goods under shipment after adjusting for working days in the initial 20 days of this month went up 4.1% compared to last year, according to the customs office. But the record was below June’s, which saw a 6.8% surge. On the other hand, unadjusted exports decreased by 2.2%, imports went down by 4.3%, and the outcome was a trade surplus of $465 million. Still, worries about the market outlook for South Korea persisted as it concentrated on the trade deal with the US. Trump’s tariff rates raise tension among the US trading countries Recent records from verifiable sources suggest South Korea’s exports and broader economy show signs of recovery. However, lingering anxiety stemming from Trump’s trade wars—marked by aggressive tariff hikes and a shift toward protectionism—continues to cloud the outlook. The August 1 deadline for the recently increased tariff rate has also ratcheted up economic tension. South Korea was hit with a 25% tariff by Trump, though it is currently delayed. Tariffs on key industries such as auto and steel remain active. Trump said that semiconductors will also be hit with tariff rates from Aug. 1. Concerning these tariff threats, US trading countries have rushed to negotiate to be granted an exemption and strike broader trade deals. Seoul is still lagging behind in this due to a long period without strong leadership after it denounced former President Yoon Suk Yeol. Meanwhile, South Korea’s trade data arrived as President Lee Jae Myung’s government introduced a supplementary budget…
The post South Korea’s exports increased by 4.1% amid US tariff jitters appeared on BitcoinEthereumNews.com.
South Korea saw its economy booming this month, with impressive results from its robust exports. This happens as the South Korean capital, Seoul, has been trying to finalize a trade deal with Washington before US President Donald Trump’s aggressive tariff policy is due to be implemented on Aug. 1. The market value of the goods under shipment after adjusting for working days in the initial 20 days of this month went up 4.1% compared to last year, according to the customs office. But the record was below June’s, which saw a 6.8% surge. On the other hand, unadjusted exports decreased by 2.2%, imports went down by 4.3%, and the outcome was a trade surplus of $465 million. Still, worries about the market outlook for South Korea persisted as it concentrated on the trade deal with the US. Trump’s tariff rates raise tension among the US trading countries Recent records from verifiable sources suggest South Korea’s exports and broader economy show signs of recovery. However, lingering anxiety stemming from Trump’s trade wars—marked by aggressive tariff hikes and a shift toward protectionism—continues to cloud the outlook. The August 1 deadline for the recently increased tariff rate has also ratcheted up economic tension. South Korea was hit with a 25% tariff by Trump, though it is currently delayed. Tariffs on key industries such as auto and steel remain active. Trump said that semiconductors will also be hit with tariff rates from Aug. 1. Concerning these tariff threats, US trading countries have rushed to negotiate to be granted an exemption and strike broader trade deals. Seoul is still lagging behind in this due to a long period without strong leadership after it denounced former President Yoon Suk Yeol. Meanwhile, South Korea’s trade data arrived as President Lee Jae Myung’s government introduced a supplementary budget…
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