Sunday, May 18, 2025

White House Clarifies: South Korea’s Reciprocal Tariff Set at 25%, Not 26%

Shutterstock

The United States has officially confirmed a 25% reciprocal tariff rate on South Korean imports.

On Friday, the South Korean government announced that it had received confirmation from U.S. authorities regarding the 25% rate.

U.S. President Donald Trump initially announced the rate during a press conference at the White House Rose Garden, which was also shown on a panel he presented.

However, confusion followed when an appendix to the White House executive order listed South Korea’s reciprocal tariff rate as 26%.

The discrepancy prompted South Korean officials to seek clarification through diplomatic and trade channels, as a one percentage point difference could significantly affect the value of exports to the U.S.

Sources revealed that the White House amended the appendix on Thursday afternoon, correcting the rate to 25% and notifying the South Korean embassy in Washington, D.C.

The White House website has since been updated, with the revised executive order appendix now reflecting the corrected 25% rate for South Korea, down from the previously listed 26%.

Hot this week

Robotaxis and Ride Passes: Uber Maps Out the Next Decade of Mobility

Uber plans to launch an autonomous robotaxi service in LA next year, expanding its self-driving market while competing with Waymo.

Nvidia Surges Past Apple: A New Era in Tech Stocks

U.S. stock market mixed as tech stocks rise; Nvidia and Tesla see gains while Dow falls. eToro surges in IPO debut.

After a 4-Day Climb, Oil Prices Retreat on Inventory Shock

Oil prices consolidated after a four-day rise, with Brent at $66.09 and WTI at $63.15, amid rising U.S. crude inventories.

Musk Reveals Starlink Expansion, Cybercab Plans During Saudi Visit

Elon Musk secured Starlink's market access in Saudi Arabia during Trump's visit, amidst scrutiny over potential conflicts of interest.

Nvidia and Tesla Power Nasdaq Past 19,000—But Dow Sinks on Health Stock Crash

The New York stock market closed mixed; tech stocks surged while the Dow fell due to declines in health insurers like UnitedHealth.

Topics

Robotaxis and Ride Passes: Uber Maps Out the Next Decade of Mobility

Uber plans to launch an autonomous robotaxi service in LA next year, expanding its self-driving market while competing with Waymo.

Nvidia Surges Past Apple: A New Era in Tech Stocks

U.S. stock market mixed as tech stocks rise; Nvidia and Tesla see gains while Dow falls. eToro surges in IPO debut.

After a 4-Day Climb, Oil Prices Retreat on Inventory Shock

Oil prices consolidated after a four-day rise, with Brent at $66.09 and WTI at $63.15, amid rising U.S. crude inventories.

Musk Reveals Starlink Expansion, Cybercab Plans During Saudi Visit

Elon Musk secured Starlink's market access in Saudi Arabia during Trump's visit, amidst scrutiny over potential conflicts of interest.

Nvidia and Tesla Power Nasdaq Past 19,000—But Dow Sinks on Health Stock Crash

The New York stock market closed mixed; tech stocks surged while the Dow fell due to declines in health insurers like UnitedHealth.

Trump’s Ultimatum to Iran Fuels Global Oil Price Surge

Oil prices surged 2.6% amid Trump's ultimatum to Iran, marking four days of increases and highest prices since April.

Mexico Decries U.S. Livestock Ban as Unilateral and Unjustified

The U.S. halts cattle imports from Mexico to prevent New World Screwworm spread, prompting criticism from Mexican officials.

Nasdaq Gains 4.4% as Tech Shares Lead Broad Market Surge

The New York stock market rallied as big tech stocks surged, led by Amazon's 8% jump, following a U.S.-China tariff agreement.

Related Articles