South Korean Won Gains on US-China Tariff Extension

The South Korean won rose to around 1,389 per dollar on Tuesday, snapping a two-day decline after President Trump extended reduced tariffs on Chinese goods for another 90 days, easing pressure on Korea’s export-driven economy and averting a return to the peak duties seen in April. The extension keeps current rates at 30% for US tariffs and 10% for China’s, maintaining a more favorable trade environment and reinforcing expectations for steady global demand in key sectors such as semiconductors. South Korean Trade Minister Yeo Han-Koo said the government will step up APEC engagement to address mounting trade, industry, and security fragmentation, while pushing to diversify supply chains and expand export links with ASEAN and India. The move is part of a broader strategy to mitigate external risks, strengthen economic resilience, and secure market access amid shifting global trade dynamics.