Korean Firm Face Huge Risk Due to President Trump’s Tariffs on Mexico
Maybe these Korean firms need to be lobbying the Mexican government to start cracking down on fentynal smuggling and human trafficking along the border to get these tarriffs removed:
South Korea’s economy has come under direct impact as US President Donald Trump signed an executive order on Saturday imposing tariffs on Mexico, Canada and China, raising concerns about a prolonged global trade war.
Industry experts warned on Sunday that Korea, heavily dependent on exports, could face significant setbacks if Trump’s tariff war escalates. Major companies, including Samsung Electronics, have manufacturing plants in Mexico and additional trade restrictions could disrupt their supply chains and profitability.
Korean firms strategically expanded their production bases in Mexico after the first round of US trade sanctions against China under the previous Trump administration. Electronics giants such as Samsung and LG, as well as automaker Hyundai Motor Group, bolstered their investments, either expanding existing facilities or establishing new ones.
As a result, Korea’s investment in Mexico surged from $11 million in 2020 to $396 million in 2022.
You can read more at the link.
South Korea should not do such a thing when that’s just a pretext by the Trumpster gang to attack Mexico. South Korea should stand firm with Mexico and support the Mexican people against a war mongering bully. The US market for South Korea, is toast anyway because the hostile US is rapidly turning into a North Korea. Both South Korea and Mexico need to divest away from the US.
The path forward is clear. And only the CCP is going to be hurt. Canada and Mexico will straighten up and fly right