Reciprocal tariff set for 25%

[Anchor]

Following the announcement of tariffs, U.S. stocks have plummeted, and concerns about a recession have emerged, but President Trump has indicated that semiconductor tariffs will also begin soon.

The mutual tariff rate on South Korea has been confirmed at 25%.

This is Kim Kyung-soo reporting from Washington.

[Report]

After the announcement of mutual tariffs, about $4.5 trillion evaporated from the U.S. stock market in just one day.

Despite warnings from Wall Street that a recession could be imminent and concerns about stagflation with rising prices, President Trump reacted as if it was expected and not a big deal.

[Donald Trump/President of the United States: "I think it's going very well. It was an operation, I like when a patient gets operated on and it's a big thing."]

Trump also announced that tariffs on semiconductors will be implemented very soon.

Semiconductors are South Korea's second-largest export item to the U.S. following automobiles.

The U.S. Secretary of Commerce raised concerns about unfair trade practices from South Korea, stating that discussions on tariff reductions could only occur if these practices were eliminated.

[Howard Lutnick/U.S. Secretary of Commerce: "They wouldn't let McDonald's bring in French fries, because they couldn't prove the origin of the French fry."]

Ultimately, there is pressure for South Korea to import more U.S. agricultural products.

The mutual tariff rate on South Korea has been set at 25%.

During the announcement, Trump held a panel showing 25%, while the administrative order appendix fluctuated between 25% and 26%, which was corrected only a day later.

Tariff rates for about ten other countries, including India and Switzerland, have also been revised.

The White House did not call it a mistake and did not clarify the reasons for the revision, emphasizing that there will be no withdrawal of tariffs.

This is Kim Kyung-soo reporting for KBS News from Washington.