Published on: 2025/03/19 17:00
The Trump administration has highlighted the presence of quote "15" "dirty" trade partners as it reaffirms the implementation of reciprocal tariffs on April SECOND.
Lee Soo-jin covers this latest development and more.
Concerns over how U.S. President Donald Trump's reciprocal tariffs will impact South Korea are growing, especially with its potential inclusion in the so-called 'Dirty 15' group of trade partners.
Speaking to Fox News on Tuesday, U.S. Treasury Secretary Scott Bessent said that there were 15 nations, which he referred to as the 'Dirty 15', that are imposing substantial tariffs on the U.S.
He did not clarify which nations would be included but with Trump previously highlighting South Korea as one of the countries that he claimed was unfairly benefiting from trade imbalances, there are growing concerns that Korea may be among the countries targeted.
"And South Korea's average tariff is four times higher. Think of that four times higher. And we give so much help militarily and in so many other ways to South Korea."
South Korea's trade surplus with the U.S. reached over 55 billion U.S. dollars last year, meaning that it could be a major target for the Trump administration.
Bessent said that come April 2nd, each country will receive a specific reciprocal tariff number deemed fair by the U.S. and that 'Dirty 15' countries are likely to face higher tariffs due to perceived unfair trade practices.
He added that the tariff calculation would be determined by the U.S. Trade Representative and the U.S. Commerce Department.
The U.S. Treasury Secretary said that he has not seen any figures yet, as they are still being calculated.
But Bessent expressed optimism that "some of the tariffs" may not go into effect if a deal is pre-negotiated or if countries look to negotiate after April 2nd.
Emphasizing that the U.S. is only in pursuit of "fair and reciprocal" trade, Bessent said that countries that stop trade practices that the U.S. deems unfair could avoid reciprocal tariffs.
Such practices include, non-tariff barriers, currency manipulation, unfair funding and labor suppression.
While Bessent believes reciprocal tariffs could lead to a "win-win" situation for everyone,.. they continue to cause concerns here in South Korea, with trade officials keen to avoid new U.S. tariffs.
Lee Soo-jin, Arirang News.
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