South Korea Braces for U.S. Tariff Impact

South Korea's government is preparing measures in response to proposed U.S. tariffs on imports from Mexico and Canada. These tariffs, announced by President-elect Donald Trump, are likely to impact South Korean firms. The government is stepping up efforts to mitigate potential negative effects on its economy.

The South Korean government is ramping up its efforts to address potential impacts from proposed U.S. tariffs on Mexican and Canadian imports, the presidential office announced. The tariffs, promised by U.S. President-elect Donald Trump, threaten to affect South Korean companies reliant on these trade routes.

Trump, in a recent statement, vowed to implement a 25% tariff on all products entering the U.S. from Mexico and Canada. Such a move could significantly disrupt international trade dynamics, with ripple effects expected on global markets.

South Korea is now focusing on devising strategic responses to ensure local businesses are shielded from the prospective economic challenges posed by these tariffs. The government is keen to mitigate any adverse impact on its domestic economy.

(With inputs from agencies.)