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Economy

US-China trade war seen hitting South Korea hard

Exports to fall 6.4% if conflict widens, says think tank

If the U.S. and China agree to expand Chinese chip imports to America, South Korean chipmakers will be hit.   © Reuters

SEOUL -- South Korea's exports will decline by 6.4% if a trade war between the U.S. and China escalates, said a Seoul-based institute which recommended that corporations diversify geographically and the government prevents protectionist measures from widening.

The Institute for International Trade, a research branch of the Korea International Trade Association, estimated that the country's exports will fall by $36.7 billion this year, if the U.S., China and the EU hike their tariffs by 10%.

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