South Korea Faces 15 Percent Tariffs Under Trump Section 122 as Trade Negotiations Stall

Welcome, listeners, to this edition of *South Korea Tariff News and Tracker*. As the Iran conflict escalates with missile strikes on U.S. bases and oil tanker attacks in the Strait of Hormuz, global trade tensions are boiling over, and South Korea finds itself squarely in the crosshairs of President Trump's tariff strategy. The big story remains the Section 122 tariffs, invoked by Trump on February 20, 2026, after the Supreme Court struck down IEEPA authority in a 6-3 ruling. This flat 10% surcharge on most U.S. imports took effect February 24 and runs through July 24, unless Congress extends it—a tough sell with midterms looming and polls showing voter backlash against higher costs, according to the Committee for a Responsible Federal Budget. Powersys reports South Korea specifically faces a 15% tariff amid ongoing negotiations, stacking on top of normal duties but exempting key items like steel, autos, and semiconductors under Section 232 rules. Gingercontrol explains this doesn't stack with those exemptions, potentially shielding South Korea's auto exports, a sector already jittery from trade warnings. Trump's team is pushing for a hike to the 15% cap, but legal challenges and trade pacts are holding it at 10% for now, per CFR discussions. Global Trade Alert pegs the trade-weighted U.S. tariff average at 11.4% under Section 122, down from 15.3% pre-ruling but a hit for partners like South Korea without deals. Nineteen countries have negotiated reductions, but South Korea's talks drag on, complicated by last October's Trump-Xi summit in Seoul—now overshadowed as a planned U.S.-China follow-up stalls over Iran, per Politico and Chosun Ilbo. Oil prices have surged 75%, hammering import-dependent South Korea and risking GDP hits, Powersys warns. With Section 301 probes targeting forced labor in 60 partners including South Korea, per USTR, expect more pressure. Trump hints at exemptions for essentials to blunt inflation gripes ahead of elections. Stay tuned as negotiations heat up—will South Korea secure a deal before July? Thanks for tuning in, listeners—subscribe now for weekly updates. 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/4iaM94Q This content was created in partnership and with the help of Artificial Intelligence AI.