Hyundai warns US tariff risks may rise despite court ruling
Hyundai Motor President Sung Kim cautioned that U.S. tariff pressure on South Korean automakers could intensify despite a recent U.S. Supreme Court ruling against universal tariffs.
Speaking to lawmakers and business officials in Seoul, Kim urged the South Korean government to quickly pass legislation enabling a $350 billion U.S. investment package, part of a trade deal that would reduce existing tariffs from 25% to 15%. He warned that without legislative action, sector-specific tariffs on autos, steel, and other goods could increase, weakening the competitiveness of Korean companies amid global shifts toward electric and autonomous vehicles, News.Az reports, citing Reuters.
Hyundai and affiliate Kia already faced a combined financial hit of nearly $5 billion from U.S. tariffs last year. Kim emphasized that, with new U.S. investigations underway and President Donald Trump threatening targeted tariffs on goods from countries “playing games” with trade agreements, the industry remains at risk.
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The South Korean government has reiterated its commitment to last year’s trade deal, while automakers continue lobbying for measures to maintain a level playing field against Japanese and European competitors.
By Aysel Mammadzada
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