Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
The South Korean Ministry of Trade, Industry and SA537 Class 2 steel Energy announced on March 27, 2025 that it plans to announce specific measures to address US car import tariffs in April, due to concerns that this will have an impact on the country's automotive industry's exports to the United States.
According to the department, US President Trump signed an order on March 26 to impose a 25% tariff on all imported cars and light trucks starting from April 2, and the same tax rate on automotive parts starting from May 3. The South Korean side pointed out that the affected components are expected to include key automotive components such as engines, transmissions, power system components, and electronic components.
South Korean Minister of Trade and Resources, Andegun, stated that the government is closely collaborating with relevant companies to assess the impact and develop response plans. He pointed out that the South Korean side is highly concerned about the sudden trade restriction measures taken by the United States, and believes that it will pose a significant challenge to the export of South Korean vehicles and components. The relevant departments are intensively preparing emergency plans for the automotive industry, which are expected to be officially released to the public in April.
Data shows that in 2024, South Korea SA537 Class 2 steel exported 1.54 million passenger cars and light trucks to the United States, an increase of 24% from 1.24 million in 2023, making it the second largest source of automobile imports to the United States. The industry is generally concerned that if the US tariff policy is implemented, South Korean car exports will face greater pressure.
This statement is seen as a continuation of South Korea's response to the US trade friction. Previously, the United States imposed a 25% tariff on imported steel and aluminum products starting from March 12th, and the South Korean government stated on March 19th that it would study and implement countermeasures.
It is worth noting that on the same day that the US announced its automobile tariff policy, Hyundai Motor Group of South Korea held the inauguration ceremony of its $7.6 billion electric vehicle factory in Erebel, Georgia. The factory is operated by Metaplant (HMGMA), a subsidiary of Hyundai Motor Group, and plans to expand its annual production capacity from 300000 vehicles to 500000 vehicles.
Hyundai Motor Group announced on March 21 that it plans to invest an additional $21 billion in the United States between 2025 and 2028. To meet the demand for automotive steel, Hyundai Steel plans to build a new steel plant with an annual output of 2.7 million tons in Louisiana. At present, its steel service center in Georgia can provide steel plates for 200000 vehicles, with plans to expand its capacity to supply 400000 vehicles annually.
The Elabel factory is the third complete vehicle factory invested and built by Hyundai Motor Group in the United States, the first two being the Alabama factory (with an annual output of 360000 vehicles) and the Kia factory in Georgia (with an annual output of 340000 vehicles). The group stated that with the completion of HMGMA, Hyundai has established a vehicle production system in the United States with an annual capacity of 1 million vehicles. In 2024, the group's sales in the US SA537 Class 2 steel market reached 1.71 million vehicles.
