South Korean businesses are bracing for the potential impact of U.S. President Donald Trump’s 25 percent tariffs on imports from Canada and Mexico.
 
The local corporate data firm Korea CXO Institute said Tuesday that 25 major conglomerates operate 201 local subsidiaries in Canada and Mexico.

The institute expects South Korean automobile, car battery and home appliance companies with manufacturing plants in the two countries to lose price competitiveness in the U.S. market due to the tariffs.

Up to now, many South Korean manufacturing companies have used Canada and Mexico as export production bases with the goal of avoiding U.S. tariffs.

Trump said Monday that the U.S. will impose 25 percent tariffs on imports from Canada and Mexico starting Tuesday.