South Korean State Think Tank Cuts 2025 Growth Forecast, Flags U.S. Tariff Risk

Quick Summary:

The steel and aluminum tariffs are just the latest in a litany of tariff threats and impositions from Trump in the first weeks of his second term.“If trade disputes intensify while uncertainty about international trade conditions remains high, there is a possibility that significant downward pressure will be placed on the Korean economy,” the KDI report said.

Trump on Monday announced 25% tariffs on imports of steel and aluminum to the U.S., reinstating global duties without exceptions for allies such as Canada, Mexico, Japan and South Korea that were relaxed by the Biden administration.

South Korea’s state-run think tank has cut its growth forecast for the country this year, citing President Donald Trump’s trade policy as a downside risk to exports growth.

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Article Details

Category: Economy

Markets: South KoreaCanadaJapanMexico

Topics: Year 2025 Global Growth Forecast Korean Trade Korea South Tank Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-12 @ 13:31:06 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 276 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 17 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 26097687

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About Korea Economic Daily

Main Topics: Economy

Official Website: kedglobal.com

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Year Established: 1964

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