(27 Mar 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Seoul, South Korea – 27 March 2025
1. Tilt-down of trading room
2. Close of screen showing the Korea Composite Stock Price Index (KOSPI)
3. Wide of screen showing KOSPI, USD/KRW exchange rates and KOSDAQ
4. Close of KOSPI screen
5. Wide of round screen showing indices
6. Close of rolling screen
7. Close of KOSPI screen
8. Various of analysts in trading room
9. Tilt down of screen
10. Wide of trading room
STORYLINE:
Shares sagged on Thursday in Asia, apart from China, after U.S. President Donald Trump announced he will slap 25% tariffs on imported cars.
Trump said he was raising duties on auto imports to encourage more manufacturing in the U.S., but the impact will be complicated since U.S. automakers and even foreign manufacturers with factories in the U.S. source many of their components from around the world.
The tax hike starting in April means automakers could face higher costs and lower sales, though Trump argues that the tariffs will lead to more factories opening in the United States and the end of what he judges to be a “ridiculous” supply chain in which auto parts and finished vehicles are manufactured across the United States, Canada and Mexico.
South Korea’s Kospi fell 1% to 2,616.95.
Korean automakers also felt a chill from Trump’s announcement.
Hyundai Motor Co.’s shares traded in Seoul lost 4.3% while Kia Corp.’s shares dropped 3.9%.
AP video shot by Yong Ho Kim
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