South Korea's Exports Fall 5.2% Amid US Tariffs

President Trump's newly imposed tariffs are already impacting global trade, with South Korea and Singapore among the nations feeling the effects. South Korea's exports dropped 5.2% in the first 20 days of April compared to the previous year, with US-bound shipments down 14.3%, and key sectors like autos and steel hit hard, though semiconductors showed growth. The US has implemented 10% blanket tariffs and 25% tariffs on autos, while a 25% reciprocal tariff on South Korea is temporarily paused for negotiations. Singapore, highly dependent on global trade, faces heightened risks as new US tariffs—10% on Singapore and over 100% on China—sparked retaliation from China and increased financial market volatility. The potential for a broader trade war threatens export-driven economies, with sectors like electronics and finance vulnerable to supply chain disruptions and weakening demand. Policymakers in affected countries are initiating talks with the US, but uncertainty and downside economic risks persist.