South Korea, U.S. in Crucial Talks to Ease Tariff Burden on Exports Ahead of APEC Summit
Negotiations are underway between South Korea and the U.S. to finalise a tariff agreement ahead of the APEC summit. This comes as South Korean exports, particularly from key industries like semiconductors and automobiles, face tariff-related challenges in the U.S. market.
On September 4, containers filled with goods departed from Pyeongtaek, Gyeonggi, representing South Korea's record-breaking export performance in September 2025. These exports were predominantly from major industries such as semiconductors, automobiles, shipbuilding, and machinery. Small and medium-sized enterprises (SMEs) also played a significant role, with companies like Shinjin Fasteners exporting industrial bolts and nuts.
However, many SME exports to the U.S. have been hindered by tariff-related issues. This has led to a situation where the majority of export goods come from South Korea's large-scale semiconductor, automotive, shipbuilding, and machinery industries, along with related SME manufacturers.
Adding to this, U.S. President Donald Trump is reportedly considering imposing tariffs on electronic devices based on their chip content. This potential move could further impact South Korean exports, which have seen growth in sectors like K-beauty and used cars in the first half of 2025.
The ongoing talks between South Korea and the U.S. aim to resolve tariff-related issues that have been affecting South Korean exports, particularly from key industries. The finalisation of a deal before the APEC summit could provide much-needed clarity and potentially boost South Korean exports to the U.S.
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