ANI
14 Jul 2025, 11:31 GMT+10
Seoul [South Korea], July 14 (ANI): South Korean exporters want new government to go for a strategic shift in the trade policy amid U.S. tariff risks, reveals a survey as reported by the Korea Herald. To maximize national interest and enhance industrial competitiveness, 20.7 per cent of 416 trade industry professionals surveyed on June 10-11 chose the implementation of a strategic trade policy.According to a report released by the Korea International Trade Association (KITA), the most frequently specified task cited under strategic trade policy was an active response to tariff risks posed by the United States.Jung Hee-chul, executive director of KITA's trade promotion division, said that, 'The trade sector hopes the new administration will establish a stable trade environment, diversify technology-driven exports, and help SMEs shift toward export-led growth.' He further added that, 'We look forward to bold export policies that can overcome US-led tariff risks and rising protectionism to upgrade Korea's export momentum.'The report by KITA further revealed that the level of uncertainty in global trade has intensified in recent years, primarily due to tariffs imposed by US President Donald Trump on key Korean exports such as steel and automobiles. This whole situation has led companies to ask for fairer export conditions to remain competitive globally.Additionally, other priorities quoted include fostering AI-powered export industries (9.5 per cent), enhancing trade security enforcement (7.5 per cent), and improving logistics security through increased use of Korea-flagged vessels (7 per cent).On the outlook side, about 43.3 per cent of respondents expect exports to decline by more than 5 per cent this year, while 38.9 per cent anticipate no major change and only 17.8 per cent foresee growth, reflecting a negative export outlook for 2025.About 71.1 per cent of respondents said they believe an export recovery will not begin until next year or later. (ANI)
Get a daily dose of Chile Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Chile Sun.
More InformationLONDON/NEW YORK CITY: American grocery bills may be headed higher as coffee and orange juice prices face upward pressure from new tariffs...
Following its latest expansion, the BRICS has embarked on a new path towards even greater internal cooperation and global influence....
(250713) -- BUENOS AIRES, July 13, 2025 (Xinhua) -- People enjoy foods at a food festival in Buenos Aires, Argentina, on July 12, 2025....
U.S. President Donald Trump's announced measure against Brazil lacks any justification from a trade balance perspective. by Evandro...
The impending 50% tariff imposed by the United States on Brazilian imports is already pushing up the price of coffee, particularly...
Foreign Minister Yusuf Tuggar says his country has enough problems and cant take in foreigners straight out of American prisons Nigeria...
LONDON, U.K.: American consumers and businesses could soon face the highest overall tariff burden in more than a century, according...
Islamabad [Pakistan], July 14 (ANI): The Pakistan Tehreek-e-Insaf (PTI) on Sunday expelled five members of the National Assembly (MNAs)...
Islamabad [Pakistan], July 14 (ANI): Confusion and internal discord have surfaced within the Pakistan Tehreek-e-Insaf (PTI) ranks on...
Frank-Walter Steinmeier has argued that volunteer enlistment may not be sufficient to meet the countrys military demands German President...
Seoul [South Korea], July 14 (ANI): South Korean exporters want new government to go for a strategic shift in the trade policy amid...
Beijing [China], July 14 (ANI): External Affairs Minister S Jaishankar who met with Shanghai Cooperation Organisation (SCO) Secretary...