The new products subject to the tariff include basic household goods such as refrigerators, washing machines, dryers, dishwashers, freezers, stoves, ovens and garbage disposals. The move is expected to have a particularly serious impact on South Korean manufacturers.
Major Korean manufacturers such as Samsung Electronics and LG Electronics are expected to face difficulties in price competitiveness due to the tariffs. Although both companies produce some of their products in the US, a significant portion of the products produced in factories in Korea and Mexico are still exported to the US.
In March, the US imposed a 25% tariff on steel, which was then based on the value of the steel content in steel-derived products. However, the Trump administration increased these tariffs to 50 percent as of April 4, further increasing the financial burden on imported products.
Experts point out that these high tariffs on steel-containing products could shake global supply chains and especially the position of Asian producers in the US market.
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