South Korea is working to secure and bolster its key domestic manufacturing industry to weather the storm of President Donald Trump’s tariff-based trade war.
Seoul is deploying a $23 billion support package to stabilize its semiconductor and pharmaceutical industries as the government seeks to negotiate a mutually beneficial arrangement during Trump’s 90-day pause on his tariff plan.
“The U.S. government has postponed its plans for reciprocal tariffs for 90 days,” said South Korean Finance Minister Choi Sang-mok during a meeting in Seoul on Tuesday. “There’s anticipation that product-specific tariffs will be announced for sectors such as semiconductors or pharmaceuticals.”
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South Korean Finance Minister Choi Sang-mok speaks during a meeting at the government complex in Seoul, South Korea, Tuesday, April 15, 2025. (Choi Jae-gu/Yonhap via AP)
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