Listening to Exporters' Difficulties After the Implementation of U.S. Tariffs
The Small and Medium Business Corporation announced on September 19 that it held an on-site meeting titled "Field Meeting to Respond to the Global Trade Environment for Export-Oriented Small Giants" with member companies of the Korea Global CEO Association at the President Hotel in Jung-gu, Seoul.
This meeting was organized a little over a month after the implementation of reciprocal tariffs by the United States and the expansion of item-specific tariffs on steel and aluminum derivatives. The aim was to listen to actual cases of damage experienced in the field of exports and to explore practical support measures.
At the meeting, the main difficulties raised included: ▲ decreased sales due to weakened price competitiveness in the U.S. market ▲ difficulty in verifying whether products are subject to item-specific tariffs ▲ instability in business relationships caused by renegotiation of unit prices and changes in order quantities. In response, participants requested strengthened policy support to alleviate management burdens, such as reducing logistics costs and expanding export financing support.
Seo Dongman, Chairman of the Korea Global CEO Association, stated, "As an organization representing export-oriented small giants in the manufacturing sector, the Korea Global CEO Association will closely cooperate with the government and related agencies to seek joint countermeasures and pool our capabilities to overcome this crisis."
Kang Sukjin, Chairman of the Small and Medium Business Corporation, said, "The Small and Medium Business Corporation will actively reflect the voices from the field and strengthen practical support, such as resolving logistics and financing difficulties and diversifying markets." He added, "We hope that export-oriented small giants will also cooperate with government policies so that we can overcome this crisis together."
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