07-07-2025
South Korean Assets Plunge on Trump's 25% Tariff Announcement
South Korean assets plunged to session lows after President Donald Trump announced a 25% tariff on the nation's goods, ratcheting up tension with one of the most important trading partners to the US.
The won plunged as much as 1.1% to trade at 1,378 per dollar, the lowest in two weeks, after Trump announced the trade levy in a social media post. Shares for the $4.95 billion iShares MSCI South Korea (EWY) fell 3.6%, the most since April.
