**Korean Auto Parts Exports Hit Hard**
**Canadian PM Successor Mark Carney: “Retaliatory Tariffs Until the U.S. Shows Respect”**
Washington – Byung-ki Min, Jun-hee Park, Ji-young Choi
U.S. Secretary of Commerce Howard Lutnick announced on the 9th (local time) that tariffs on steel and aluminum would be implemented as scheduled on the 12th. As a result, there are concerns that 20-30% of car parts, a major export item to the U.S., might be subject to tariffs, as they fall under the steel and aluminum category. Mark Carney, elected as the next Canadian Prime Minister and leader of the Liberal Party, stated that retaliatory tariffs would be maintained until the U.S. shows respect to Canada. Meanwhile, China intensified the tariff war by imposing a second round of retaliatory tariffs on U.S. agricultural and livestock products starting at midnight on the 10th.
In an interview with NBC News, Lutnick confirmed that the 25% tariffs on steel and aluminum, as announced by President Trump, would indeed be implemented starting the 12th. If the tariffs are enforced from the 12th, it is expected to impact car parts exports amounting to over $1.6 billion (approximately 2.3 trillion KRW). A government official commented, “We need to verify the U.S. government’s item classification results, but some car parts that predominantly use steel and aluminum could immediately be subject to these tariffs.” Additionally, President Trump reiterated in an interview with Fox News aired the same day that “everything will be reciprocal from April 2nd,” which could have a more significant impact on the South Korean economy.
Meanwhile, in his first speech after winning the Liberal Party leadership election, Carney emphasized, “Canada will never be part of the United States in any form or manner.” The Chinese government increased tariffs on 740 U.S. products by 10-15% starting from the 10th.