With the recent tariff measures enacted by U.S. President Donald Trump, South Korea’s exports to the United States dropped by 14.3% in the first 20 days of April compared to the same period last year.
According to data released by the Korea Customs Service on April 21, South Korea’s total exports from April 1 to 20 amounted to $33.87 billion, down 5.1% year-on-year. The trade balance during this period recorded a deficit of $137 million.
The decline in exports is largely attributed to the impact of tariffs imposed by Trump. Exports to the U.S. during this period stood at $6.182 billion, marking a 14.3% drop from a year earlier.
Exports of items directly affected by U.S. tariffs also decreased during the same period. Passenger car exports fell 6.5%, auto parts declined 1.7%, and steel products dropped 8.7% year-on-year.
Trump began imposing a 25% tariff on all steel and aluminum imports on March 12. Since April 3, a 25% tariff has also been applied to foreign-made automobiles and auto parts. On April 5, a 10% baseline tariff was introduced on all imported goods.
Even industries not directly targeted by the tariffs saw declining exports. Among South Korea’s major export items, semiconductors were the only category to post growth, rising 10.7% from the same period last year. In contrast, exports of home appliances fell 29.9%, computer peripherals dropped 23.3%, petroleum products declined 22%, and ships were down 9.1%.
