Global trade tensions took center stage at the Seoul Mobility Show as automakers confronted the impact of new U.S. tariffs, raising concerns over rising costs, shifting strategies, and the future of international automotive trade.
On the second day of the 30th annual Seoul Mobility Show, held Saturday, April 5, industry leaders and attendees came together to explore the latest advancements in automotive and construction technology—against the backdrop of growing global trade uncertainty.
The event opened as new 25% tariffs on imported vehicles, announced by U.S. President Donald Trump, took effect. Countries including South Korea have been directly impacted by the reciprocal tariffs, a move expected to raise vehicle prices for consumers and strain international trade relationships.
According to Kevin Hassett, Director of the U.S. National Economic Council, over 50 countries have approached the White House to initiate trade negotiations, though U.S. officials continue to downplay concerns of a recession tied to the new policies.
At the auto show, HD Hyundai Senior Manager Hwang Younghun acknowledged the challenges ahead but emphasized the company’s commitment to maintaining its export strategy.
“The implementation of tariff policies will certainly have an impact, but since other global companies are in the same situation, there will be no changes to our export strategies or policies,” Hwang stated, adding that 90% of HD Hyundai's products are currently being exported, including Develon Hyundai excavators sold in markets such as Turkey.
For visitors like 29-year-old investor Yu Daesung, the economic implications of tariffs are already being felt.
“I invest in stocks, so I'm experiencing significant losses due to the tariffs,” he said. “As for vehicles, I think sales will depend on each brand’s strengths, regardless of the tariffs.”
Meanwhile, British automaker Jaguar Land Rover has announced a temporary pause in U.S. shipments for April as it reevaluates its approach to the newly imposed tariffs. The company, which sells approximately 400,000 vehicles annually—nearly a quarter of them in the U.S.—described the decision as a short-term strategy to adjust to shifting trade dynamics.
This move comes at a challenging time for the U.K. auto industry, which has seen a 13.9% drop in vehicle production in 2023 amid falling demand and a critical push toward electric vehicle production. The U.S. remains the second-largest market for British-made cars, making the impact of the tariffs especially significant.
Other manufacturers, including BMW, Volkswagen, Toyota, Honda, Hyundai, and Kia, are expected to face similar pressures. German automakers like BMW and Mercedes-Benz will contend with increased costs due to cross-border component sourcing, while Japanese and South Korean carmakers reliant on U.S. exports will be particularly affected.
In contrast, U.S.-based automakers such as Tesla, whose manufacturing is largely domestic, may be better positioned to weather the current trade climate.
As global trade tensions reshape the automotive landscape, manufacturers and consumers alike are bracing for potential shifts in pricing, production, and international strategy.
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Japanese Prime Minister Ishiba Shigeru and Philippine President Ferdinand Marcos Jr. agreed Tuesday to enhance economic and defense cooperation, affirming their opposition to any unilateral attempts to change the status quo in the East and South China Seas through force or coercion.
At the Three Seas Initiative summit, Polish President Andrzej Duda, Lithuanian President Gitanas Nausėda, and Croatian Prime Minister Andrej Plenković briefed reporters after talks with leaders from 11 Central- and Eastern-European states, underscoring regional cooperation on energy.
Meta is launching its first-ever AI developer conference, LlamaCon, on Tuesday, aiming to re-engage the developer community and spotlight the company’s Llama family of open AI models.
Online retail platform Temu has begun adding steep “import charges” of around 145% to orders shipped to the United States, a direct response to President Donald Trump’s newly imposed tariffs on Chinese goods, CNBC reported.
A minibus carrying Russian tourists overturned in Antalya's Manavgat district on Tuesday, injuring 19 people. Emergency teams swiftly responded to the scene, and all injuries are reported as non-life-threatening.
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