On the 26th local time, Trump announced that tariffs on Korean automobiles, pharmaceuticals, and timber would be raised from 15% to 25%. This move caused Korean auto stocks to plummet at the open today; Hyundai Motor's stock price once dropped by 4.77% intraday, then the decline narrowed. The company is the largest Korean new car importer in the United States.
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On the 26th local time, Trump announced that tariffs on Korean automobiles, pharmaceuticals, and timber would be raised from 15% to 25%. This move caused Korean auto stocks to plummet at the open today; Hyundai Motor's stock price once dropped by 4.77% intraday, then the decline narrowed. The company is the largest Korean new car importer in the United States.