Seoul: The government has received more than 3,000 consultation inquiries related to the United States' tariff policies from South Korean companies amid heightened trade uncertainties, the industry ministry said Tuesday. Of the cases, 68 percent were about tariffs, 7 percent about breaking into alternative markets, and 4 percent about relocating manufacturing bases, according to the Ministry of Trade, Industry and Energy.
According to Yonhap News Agency, the government has been providing a consultation service on responses to U.S. tariffs to Korean companies since late February. This service was initiated shortly before the U.S. administration, under President Donald Trump, began imposing hefty tariffs on all steel, aluminum, and automobile imports. The U.S. has also implemented country-by-country reciprocal tariffs, which include a 25 percent import tariff for South Korea, currently suspended for 90 days.