Stormy Seas: South Korea's Economic Battle Against U.S. Tariffs

South Korea's acting President Han Duck-soo urges talks with U.S. to lessen tariffs' impacts amid a trade crisis, as analysts warn of significant economic consequences. Major corporations, facing increased costs, are deterred by new tariffs potentially affecting GDP and foreign relations amidst domestic political uncertainty.

South Korea's acting President, Han Duck-soo, has called for urgent discussions with U.S. officials to mitigate the economic impact of looming tariffs, highlighting the challenges facing the export-driven economy. He urged industry leaders and government officials to pool resources in this trade crisis exacerbated by U.S. President Donald Trump's new tariff plans.

Industry Minister Ahn Duk-geun described the tariffs as "regrettable", noting ongoing consultations with U.S. counterparts. Analysts predict significant repercussions for Asia's fourth-largest economy, where major exports like automobiles face challenges amid heightened tariffs and regional production shifts.

As domestic political instability unfolds, South Korea intensifies diplomatic efforts to negotiate reduced tariffs, with discussions underway to avert a blow to the nation's fragile economy and secure safeguarding measures during this challenging period. However, uncertainty looms over effective resolutions, given the tense diplomatic landscape.

(With inputs from agencies.)