U.S. President Trump reveals sweeping reciprocal duties on all U.S. trade partners; S. Korea facing 25% duty

The Trump administration has unveiled its long-warned reciprocal tariffs for all of its trade partners: a baseline 10% tariff on all imports, with even higher rates for select countries that includes South Korea with a 25% reciprocal tariff.

Bae Eun-ji has our top story.

The 25-percent reciprocal tariff imposition on South Korea has become official as U.S. President Donald Trump on Wednesday local time, signed an executive order imposing his sweeping reciprocal tariff plan.

"My fellow Americans, this is Liberation Day. Been waiting for a long time. April 2nd, 2025 will forever be remembered as the day American industry was reborn Our country and its taxpayers have been ripped off for more than 50 years. But it is not going to happen anymore. It's not going to happen."

Trump announced a baseline tariff of 10% on all imports, with higher rates for select countries that he labeled bad actors.

South Korea faces a 25-percent reciprocal tariff, higher than the EU's 20-percent and Japan's 24-percent.

Major U.S. trading partners will also be subject to steep tariff rates, including 34% on China, which will come in addition to existing 20-percent tariffs on Chinese imports, for a total 54-percent tariff rate.

The reciprocal tariffs effectively nullify the Korea-U.S. Free Trade Agreement, forcing South Korea to negotiate a new trade deal with the U.S.

In response, Acting President and Prime Minister Han Duck-soo convened an emergency meeting early Thursday morning,

where he instructed the trade ministry to work closely with businesses to analyze the details and impact of the newly announced tariffs.

He also ordered the government to swiftly set up emergency support for affected industries and businesses, especially in the automotive sector.

Bae Eun-ji, Arirang News.