25% auto tariffs especially painful in Japan and South Korea
Date: 25 April
US tariffs of 25% on all automobile and auto parts will weigh heavily on the Japanese and South Korean automotive sectors. The US is the biggest automotive export destination for Japan and South Korea, with exports to the country accounting for over a fifth of sales in South Korea and 7% in Japan. Additionally, tariffs will hit shipments via third countries such as Mexico, consequently hitting domestic auto parts production. In this webinar, we will discuss how much auto production will be hit in Japan and South Korea and through which channels.
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