US Considers Additional 7.5% Tariff on Chinese Products

The Trump administration is reviewing a plan to impose an additional 7.5% tariff on Chinese goods. This additional rate would be added to the existing 12.5% tariff, bringing the total rate to 20%. The Chinese Ministry of Commerce stated that the US had promised not to exceed a 20% alternative tariff, and this review is interpreted as a measure to avoid impacting US-China negotiations. On March 11, the Office of the United States Trade Representative (USTR) began an investigation into overproduction in the manufacturing sector, targeting 16 economic regions including China, South Korea, Japan, the European Union (EU), Vietnam, and Taiwan. USTR cited industries such as aluminum, automobiles, batteries, electronics, semiconductors, solar modules, and steel as examples. The Chinese Foreign Ministry has rejected the US's concerns and expressed opposition to unilateral tariff measures. For South Korean readers, changes in the US tariff system could have more direct implications. The final tariff rate and its implementation have not yet been confirmed, and the schedule for Chinese President Xi Jinping's visit to the US on September 24 has been confirmed.