S.Korea sees steepest tariff hike on exports to US among Washington’s major trading partners in Q2

By Berk Kutay Gokmen

ISTANBUL (AA) – South Korea saw the steepest hike in tariffs on its exports to the US among its major trading partners in the second quarter of 2025, Seoul-based Yonhap News reported on Sunday, citing official data.

A report by the Korea Chamber of Commerce and Industry said tariffs on South Korean exports surged 47-fold this April-June compared to the previous quarter of 2024, just before the Trump administration took office.

This spike far surpassed the 19.5-fold increase for Canada and 17.8-fold rise for Mexico, the chamber said. In contrast, China’s tariff burden rose only twofold, as it had already faced higher tariffs on electric cars, batteries, and chips under the former Joe Biden administration.

In terms of tariff volume, South Korea ranked sixth with $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 at $4.78 billion, Germany at $3.57 billion, and Vietnam at $3.34 billion.

South Korea had previously benefited from zero tariffs on most goods under its free trade agreement with the US before the Trump administration imposed a 10% universal tariff, alongside additional duties on key items like automobiles and steel.

Automobiles and related parts made up $1.9 billion, or 57.5%, of South Korea’s tariff burden, as the US introduced 25% tariffs on these goods in April and May.

The effective tariff rate for South Korea in the second quarter stood at 10%, ranking third after China’s 39.5% and Japan’s 12.5%.

The chamber urged the South Korean government to focus on easing the burden on companies, helping them adjust to new trade rules, rather than imposing additional hurdles.