Former US President Donald Trump has set a looming deadline for imposing steep tariffs on key trading partners, including South Korea and India, in a move that analysts fear could destabilise global markets.
The so-called 'doomsday' tariffs, if enacted, would mark a dramatic escalation in Trump's long-standing trade disputes with both nations. Industry leaders warn the measures could spark retaliatory actions, potentially igniting a full-blown trade war.
Economic Fallout Feared
Economic experts predict dire consequences should the tariffs take effect. "This isn't just about bilateral trade," noted London-based trade analyst James Wilson. "These measures could disrupt entire supply chains and send shockwaves through the global economy."
South Korea in the Crosshairs
South Korea faces particular vulnerability, with its technology and automotive sectors potentially bearing the brunt of the proposed tariffs. The move comes despite Seoul's recent efforts to strengthen economic ties with Washington.
India's Growing Concerns
Meanwhile, Indian officials have expressed alarm over the potential impact on their burgeoning tech sector. New Delhi has reportedly begun preparing contingency plans should the tariffs materialise.
The deadline for implementation falls just weeks before the US presidential election, leading some observers to question the timing of the announcement. Political analysts suggest the move may be designed to appeal to Trump's domestic base.
Global Reactions
International responses have been swift, with the EU and China both issuing statements urging restraint. The World Trade Organisation has called for "cool heads to prevail" in what it describes as an increasingly volatile trade environment.
As the clock ticks down to Trump's deadline, businesses on both sides of the Pacific are bracing for potential disruption, with many scrambling to adjust their supply chains in anticipation of the possible trade barriers.
