More tariffs coming: U.S. targets steel derivatives, imported vehicles

We start in the U.S., where the government has announced plans to expand tariffs on products made with steel, including refrigerators.

President Trump also warned that he may soon raise tariffs on foreign cars to have more auto makers build plants in America.

Our Park Kun-woo starts us off.

More ramping up of tariffs on foreign goods by the Trump administration.

On Thursday, the U.S. Department of Commerce announced that tariffs on steel and its derivative products will be expanded to cover eight more items starting later this month.

Those items include refrigerators, washing machines, dishwashers, ovens, and more.

This means the 50 percent tariff, which went into effect in early June, is now set to be applied to those products for the "value of the steel content in each product."

South Korean products are also expected to be affected, with companies like Samsung and LG Electronics manufacturing and exporting a wide range of home appliances to the U.S., from South Korea, and Mexico, though some products are made in the USA.

Trump also hinted at raising tariffs on foreign-made automobiles on Thursday to boost the U.S. auto industry.

"To further defend our auto workers, I imposed this 25% tariff on all foreign automobiles and investment in American manufacturing and auto manufacturing. I might go up with that tariff in the not too distant future. The higher you go, the more likely it is they build a plant here."

The U.S. president was speaking at a White House event, where he also cited investment plans from automakers, including General Motors, crediting his tariffs for those announcements.

South Korean cars, already impacted by U.S. tariffs, are also set to be affected.

Park Kun-woo, Arirang News.