0447 GMT - Both Japan and South Korea will look to reduce Trump's reciprocal tariffs rather than seek to hit back at the respective 24% and 25% levies, ING's Min Joo Kang says. The marginal impact of the new tariffs is likely to be smaller than the separate 25% duty on autos, which is the largest category of exports to the U.S. for both countries, the economist says. Semiconductors and pharma--both major export items from Japan and Korea--have been spared, she notes, expecting the negative impact to be more concentrated in heavy industry and machinery. "Neither country is likely to retaliate," she adds, instead seeing them making concessions by importing more U.S. products. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 00:47 ET (04:47 GMT)
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