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News India Live, Digital Desk: The excitement of the presidential elections in America has intensified and former President Donald Trump is once again raising the heartbeats of companies around the world with his statements. This time their target is South Korea and its big companies like Samsung, Hyundai and LG.
Trump has clearly threatened in an interview that if he comes back to power after winning the 2024 elections, he will impose a huge tax (tariff) of 25% on all goods coming to America from South Korea.
Why is Trump so angry with South Korea?
The reason for this is an agreement between America and South Korea Free Trade Agreement. Trump believes that this agreement is completely one-sided and only South Korea is benefiting from it, while America is suffering huge losses.
His argument is simple and clear:
- “America is being duped”: He alleges that South Korean companies are coming to America and earning jobs and money, but America is not getting anything in return. He considers this against his ‘America First’ policy.
What effect will this have on the common people?
If Trump really does this, it will have a direct impact on millions of people who buy Samsung phones, LG TV-fridges or Hyundai cars. Imposition of 25% tax means that the prices of all these things in America will suddenly increase a lot.
This will be a huge blow not only for the customers but also for these companies themselves, because America is one of their biggest markets. Companies like Hyundai and Samsung have invested billions of dollars in America and have also set up factories there.
Is this just an election threat?
Many experts believe that this is Trump’s old method. By making such big statements before the elections, he wants to give a message to his voters that he is ready to clash with any country for the interests of America. Even when he was the President, he had launched a similar trade war on many countries including China.
However, it cannot be ignored as a mere threat. If Trump becomes president again, it could be the beginning of a major earthquake for global trade, which will impact every corner of the world.
