Washington, Feb 15: US President Donald Trump will announce tariffs on imported cars in early April in what could be a direct setback to the South Korean automotive industry.
The president announced the plan to unveil auto tariffs on April 2 as he has been using tariffs as a key tool to shrink America’s trade deficit, boost domestic manufacturing and achieve other policy goals, including preventing the inflow of unauthorised migrants and drugs.
Amid Trump’s tariff-based policy push, fears have been swirling that Asia’s fourth-largest economy might be put into his administration’s crosshairs, given that South Korea’s trade surplus with the United States reached $55.7 billion last year, reports Yonhap news agency.
“We’re going to do it on April 2, I think. Is that right?” Trump asked his aide, who said, “That’s right.”
The president did not elaborate on whether he will just announce the tariffs on April 2 or they will take effect that day. (IANS)
