Trump's tariff could reduce Hyundai and Kia's total operating profit by up to 19%

[Anchor]

Hello everyone.

This is KBS News at nine o'clock on Saturday.

As U.S. President-elect Trump pulls out the ultra-tough tariff card, countries are moving quickly.

The Canadian Prime Minister, who is facing an immediate 25% tariff, visited Florida to meet with President-elect Trump.

This may be an issue that also concerns our country.

If the U.S. implements a 20% universal tariff, it is projected that Hyundai and Kia's operating profit could decrease by nearly 20%.

Reporter Kim Kyung-soo has the details.

[Report]

During his presidential campaign, President-elect Trump called tariffs the most beautiful word in the dictionary and warned of a tariff bomb.

[Donald Trump/President-elect of the United States/Interview with Bloomberg TV on Oct. 15: "The higher the tariff, the more likely it is that the company will come into the United States and build a factory in the United States, so it doesn't have to pay the tariff."]

Global credit rating agency Standard & Poor's released a report stating, "If a 20% tariff is imposed on products exported from Korea to the U.S., Hyundai and Kia's total operating profit could decrease by up to 19%."

Countries already targeted by tariffs are in a rush.

Just four days after President-elect Trump announced a 25% tariff on Canadian and Mexican products, the Canadian Prime Minister visited Florida to meet with Trump.

This is because the economic impact on Canada from tariffs is inevitable.

Canada is reportedly also considering retaliatory tariffs.

[Justin Trudeau/Prime Minister of Canada/On Nov. 26: "We're going to continue to work constructively with the incoming administration to protect Canadian jobs, to protect Canadian growth."]

As evaluations emerge that President-elect Trump has opened the door to a tariff war, countries around the world are putting all their efforts into preparing countermeasures.

This is Kim Kyung-soo from KBS News in Washington.