{"id":2208194,"date":"2025-02-03T08:00:31","date_gmt":"2025-02-02T23:00:31","guid":{"rendered":"https:\/\/koreapro.org\/?p=2208194"},"modified":"2025-02-02T19:36:31","modified_gmt":"2025-02-02T10:36:31","slug":"us-imposes-25-tariffs-on-canada-over-opioid-crisis-raising-korea-trade-fears","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2025\/02\/us-imposes-25-tariffs-on-canada-over-opioid-crisis-raising-korea-trade-fears\/","title":{"rendered":"US imposes 25% tariffs on Canada over opioid crisis, raising Korea trade fears"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The U.S. imposed a 25% tariff on Canadian goods on Sunday as part of an <\/span><a href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/02\/imposing-duties-to-address-the-flow-of-illicit-drugs-across-our-national-border\/\"><span style=\"font-weight: 400;\">executive order<\/span><\/a><span style=\"font-weight: 400;\"> aimed at stemming the flow of illicit drugs across the country\u2019s northern border. The order, expanding a declared <\/span><a href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/01\/declaring-a-national-emergency-at-the-southern-border-of-the-united-states\/\"><span style=\"font-weight: 400;\">national emergency<\/span><\/a><span style=\"font-weight: 400;\">, targets Canada\u2019s alleged role in the U.S. fentanyl crisis. The U.S. also imposed tariffs on Mexico and China.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In response, Canada\u2019s finance and foreign ministers announced <\/span><a href=\"https:\/\/www.canada.ca\/en\/department-finance\/news\/2025\/02\/canada-announces-155b-tariff-package-in-response-to-unjustified-us-tariffs.html\"><span style=\"font-weight: 400;\">countermeasures<\/span><\/a><span style=\"font-weight: 400;\"> amounting to a $155 billion tariff package on U.S. goods, effective Feb. 4. The measures, described as a defense of Canadian interests against what officials labeled as unjustified U.S. tariffs, include phased tariffs on a broad array of products ranging from consumer staples to industrial inputs. Meanwhile, Beijing announced it would challenge the tariff at the World Trade Organization and take unspecified countermeasures.<\/span><\/p>\n<p><b>WHY IT MATTERS<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The tariff showdown between the U.S. and Canada will likely have a ripple effect on global supply chains, directly impacting South Korean businesses. Disruptions are expected as increased costs and shifting trade patterns will likely force companies to reassess sourcing and pricing strategies. South Korean industries tied to high-value exports and integrated into North American supply chains, such as electric vehicle batteries, may see material costs rise if the tariffs remain in place.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, while Seoul has already pledged <\/span><a href=\"https:\/\/koreapro.org\/2025\/01\/south-koreas-financial-plans-aim-to-stabilize-a-wobbling-economy\/\"><span style=\"font-weight: 400;\">financial support<\/span><\/a><span style=\"font-weight: 400;\"> for exporters and key sectors, the current leadership vacuum following President Yoon Suk-yeol\u2019s impeachment and arrest casts doubt on a coordinated government response. The ruling People Power Party and the main opposition Democratic Party remain at <\/span><a href=\"https:\/\/koreapro.org\/2025\/01\/economic-recovery-at-stake-as-south-koreas-rival-parties-debate-fiscal-measures\/\"><span style=\"font-weight: 400;\">loggerheads<\/span><\/a><span style=\"font-weight: 400;\"> over the need for additional supplementary spending. With the Constitutional Court\u2019s ruling on Yoon\u2019s impeachment pending, South Korean businesses face potential tariff spillovers.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>The U.S. imposed a 25% tariff on Canadian goods on Sunday as part of an executive order aimed at stemming the flow of illicit drugs across the country\u2019s northern border. The order, expanding a declared national emergency, targets Canada\u2019s alleged role in the U.S. fentanyl crisis. The U.S. also imposed tariffs on Mexico and China. [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2208195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28],"class_list":["post-2208194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-inter-korean-foreign-relations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US imposes 25% tariffs on Canada over opioid crisis, raising Korea trade fears - Korea Pro<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2025\/02\/us-imposes-25-tariffs-on-canada-over-opioid-crisis-raising-korea-trade-fears\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US imposes 25% tariffs on Canada over opioid crisis, raising Korea trade fears - Korea Pro\" \/>\n<meta property=\"og:description\" content=\"The U.S. imposed a 25% tariff on Canadian goods on Sunday as part of an executive order aimed at stemming the flow of illicit drugs across the country\u2019s northern border. The order, expanding a declared national emergency, targets Canada\u2019s alleged role in the U.S. fentanyl crisis. The U.S. also imposed tariffs on Mexico and China. 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