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South Korea unveils $2bn emergency help for carmakers after Trump tariff blow

IndiaTimes Wednesday, 9 April 2025
South Korea on Wednesday unveiled a $2 billion emergency support package for its crucial export-focused carmakers, warning US President Donald Trump's 25 percent tariffs on the sector could be a "significant blow". "Given that automobiles and auto parts are South Korea's top exports to the US, the decision to impose a 25 percent tariff on these items is expected to deliver a significant blow to our auto industry," the government said in a statement announcing the support measures.
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