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Filtering by entity: Lee Jae-myung | Clear Filter
Summary:A letter from the White House to the President of Korea announces new trade policies, effective August 1, 2025, to address a U.S. trade deficit. The policy includes a 25% tariff on all Korean products entering the United States, with a provision for higher tariffs on goods transshipped to evade the tariff. It also states that Korean companies manufacturing products within the U.S. will not face these tariffs, and warns of additional U.S. tariffs if Korea raises its own tariffs in response. The letter asserts that the trade deficit poses a threat to U.S. economy and national security.
Sentiment:Protectionist
Key Claims:
- The United States has a significant and persistent trade deficit with Korea due to Korea's tariffs and non-tariff policies and trade barriers.
- Starting August 1, 2025, the U.S. will impose a 25% tariff on all Korean products imported into the United States, separate from other sectoral tariffs.
- Goods transshipped to evade the 25% tariff will be subject to a higher tariff.
- Korean companies that build or manufacture products within the United States will not be subject to these tariffs.
- If Korea raises its tariffs, the U.S. will add that increase to its existing 25% tariff.
- The trade deficit is identified as a major threat to the U.S. economy and national security.
Potential Market Impact (S&P 500):8/10
Potential Geopolitical Risk:3/10
Potential Global Cross-Asset Impact:8/10
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