Hyundai Motor unnerved as Coupang probe fuels US trade pressure

Hyundai Motor Group is growing increasingly anxious over the possible reinstatement of a 25 percent U.S. tariff on Korean-made vehicles, a move that could cost Hyundai Motor and Kia a combined 11 trillion won ($7.48 billion) annually, according to market estimates. The renewed trade pressure from Washington comes amid heightened scrutiny of Korea’s investigation into Coupang, a U.S.-headquartered e-commerce firm — a dispute that industry officials and analysts fear could spill over into broader trade measures affecting Korean automakers. Korean automakers are currently subject to a 15 percent tariff after Seoul and Washington reached a bilateral trade agreement in November last year. However, the Donald Trump administration has warned it could restore the tariff rate to 25 percent on Korean-made vehicles, citing delays in Korea’s legislative process to implement the deal. A return to the higher tariff would significantly weigh on Hyundai Motor Group’s earnings. According to Daol Investment & Securities, Hyundai Motor and Kia would face a combined annual cost of about 11 trillionWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times