SEOUL (Reuters) -South Korea’s exports for the first 20 days of April fell 5.2% from a year earlier, dragged down by U.S.-bound shipments, customs data showed on Monday, amid President Donald Trump’s sweeping tariff policies. From this month, the U.S. has introduced 10% blanket tariffs and 25% auto tariffs, while 25% reciprocal tariffs on South […]
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South Korea April 1-20 exports fall as US shipments drop amid tariffs
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SEOUL (Reuters) -South Korea’s exports for the first 20 days of April fell 5.2% from a year earlier, dragged down by U.S.-bound shipments, customs data showed on Monday, amid President Donald Trump’s sweeping tariff policies.
From this month, the U.S. has introduced 10% blanket tariffs and 25% auto tariffs, while 25% reciprocal tariffs on South Korea are currently paused for 90 days.
Exports to the U.S. fell 14.3%, while those to China, which is in a trade war with Washington, declined 3.4%. Shipments to the European Union rose 13.8%.
By product, exports of automobiles fell 6.5% and auto parts lost 1.7%, while semiconductors rose 10.7%.
(Reporting by Jihoon Lee; Editing by Kim Coghill)