South Korea Faces 11 Percent Average Tariffs Under Trump Section 122 Rules Amid Global Trade Tensions

Welcome back, listeners, to South Korea Tariff News and Tracker. Today, we're diving into the latest on U.S. tariffs under President Trump, with a sharp focus on how they're hitting South Korea amid escalating global trade tensions.According to a recent White House press briefing covered by Bloomberg Television, Trump aggressively defended his unilateral tariff hikes, explicitly naming South Korea alongside Canada, Brazil, and the EU as targets under the International Emergency Economic Powers Act before its Supreme Court smackdown. NerdWallet reports that after the February 2026 Supreme Court 6-3 ruling overturning broad IEEPA tariffs, Trump pivoted to temporary 15% Section 122 tariffs on nearly everything global, set to expire July 24 unless Congress extends them—putting South Korean exports like autos and electronics squarely in the crosshairs at an effective average rate of 11% per Yale's Budget Lab, or 12.1% via the Tax Foundation.Specifics sting for South Korea: 25% duties on imported cars and parts under untouched Section 232 rules threaten Hyundai and Kia shipments, while 50% on steel and aluminum slams POSCO and key suppliers. The New York Fed's February analysis shows 94% of this burden falls on U.S. importers and consumers, with household costs hitting $1,130 to $1,340 if made permanent. Refunds kick off May 11, per U.S. Court of International Trade filings, returning billions from the $166 billion overcollected—good news for South Korean firms awaiting their cut.Trump's volatility continues, with JD Supra noting a surge in securities class actions over tariff impacts, as companies like those in South Korea's supply chain face revenue hits from "Liberation Day" duties first announced in 2025. Goldman Sachs tracks shipping surges at U.S. ports, up 22% year-over-year, as exporters rush ahead of deadlines—South Korea's ports likely buzzing too.As EU auto tariffs loom at 25% and broader fights rage, South Korea watches nervously for bilateral deals. Stay tuned for updates.Thanks for tuning in, listeners—subscribe now for every tariff twist. This has been a Quiet Please production, for more check out quietplease.ai.For more check out https://www.quietperiodplease.com/Avoid ths tariff fee's and check out these deals https://amzn.to/4iaM94QThis content was created in partnership and with the help of Artificial Intelligence AIThis episode includes AI-generated content.