Korea Trade Association: “Influence of US customs duty on China”-about 40% of total exports
May 21, 2019
Korea Trade Association: International Trade Research Institute
On May 14, he announced “the impact of US tariffs on China’s tariffs”.
According to this, Korea’s exports are expected to decrease by more than 0.14% ($ 870 million a year) due to additional tariff charges on Chinese products in the United States.
2018: Korean exports
26.8% exports to China,
Export to the US is 12.1%,
It accounts for about 40% of total exports in two countries
If US-China trade friction expands, the impact on Korea will also be significant.
Analysis of Korea Trade Association:
Of the additional tariff imposition to China in the United States
As a direct effect, Korea’s exports to the world decreased by 0.10%, due to a decrease in Chinese demand for intermediate goods.
As an indirect effect, China’s slowing growth is expected to reduce Korea’s exports to the world by 0.04%.
By industry, it is expected that the impact will be large mainly on intermediate goods and capital goods such as electronic parts, steel products and chemical products.
-JETRO
https://www.jetro.go.jp/biznews/2019/05/c883148e074550b5.html