Photo : YONHAP News / EPA
Anchor: U.S. President Donald Trump introduced another tariff plan on Friday, seeking to charge duties on all imported cars. The latest announcement comes after Trump unveiled his plans to charge reciprocal tariffs and duties on steel and aluminum imports, sparking concerns for automakers in South Korea.
Kim Bum-soo has more.
Report: U.S. President Donald Trump says new tariffs on foreign cars would be coming as soon as early April.
Speaking to reporters in the Oval Office on Friday, Trump announced the plan, sparking concerns for automakers around the globe.
[Sound bite: U.S. President Donald Trump]
(Reporter: You mentioned auto tariffs the other day. When you plan them to...?)
I'd say over the next some time, maybe around April 2nd, I wouldn't have done them on April 1st, believe it or not, I'm a little superstitious..."
It is unclear whether the U.S. will just announce the tariffs on April 2 or put them into effect that day.
[Sound bite: U.S. President Donald Trump]
"No, literally, we had it planned for April 1st. I said, 'let's make it April, April 2nd'. You know how much money that costs? That costs a lot of money just that one day. But we're going to do it on April 2nd, I think. Is that right?"
While details of the auto tariffs remain unclear, the Trump administration is working on calculating "reciprocal tariffs" on each country at matching levels of import duties charged on American goods.
The Trump administration had already announced a plan to impose 25 percent tariffs on steel and aluminum imports, starting March 12, inevitably raising vehicle production costs.
According to data provided to CNBC by GlobalData, eight-point-six percent of the cars sold in the U.S. last year were produced in South Korea.
Under the South Korea-U.S. free trade agreement signed in 2007, the U.S.-based General Motors and South Korea's Hyundai and Kia export their products tariff-free to the U.S.
South Korean Foreign Minister Cho Tae-yul is planning to discuss the tariff issues with U.S. Secretary of State Marco Rubio when they meet on the sidelines of the Munich Security Conference on Saturday.
Kim Bum-soo, KBS World Radio News.