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South Korea's August Exports Drop 12% Amid Tariffs

9/2/2025

36 8 Full Breakdown

Summary

Story summary

South Korea's exports to the U.S. decreased by 12% in August, the largest drop since May 2020, due to tariffs.
Auto exports fell by 3.5%, and steel exports declined by 32.1%, highlighting tariff impacts.
Overall exports increased by 1.8% year-on-year, supported by $15.1 billion in semiconductor sales.
Trade Minister Kim Jung-kwan will announce support measures for small and mid-sized suppliers affected by tariffs.

History

Historical Context

In 2018, the United States imposed tariffs on steel and aluminum, altering global trade dynamics. By August 2023, South Korea's exports to the U.S. had decreased by 12%, with steel exports dropping 32.1%. These changes reflect ongoing trade tensions and policies that may reshape international supply chains, prompting South Korea to consider support measures for affected industries, as noted by Trade Minister Kim Jung-kwan.

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Story summary

South Korea's exports to the U.S. decreased by 12% in August, the largest drop since May 2020, due to tariffs.
Auto exports fell by 3.5%, and steel exports declined by 32.1%, highlighting tariff impacts.
Overall exports increased by 1.8% year-on-year, supported by $15.1 billion in semiconductor sales.
Trade Minister Kim Jung-kwan will announce support measures for small and mid-sized suppliers affected by tariffs.

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