Post #5883

🇰🇷🇺🇸Seoul Faces Tariff Risk Over Hormuz Exemption Victor Cha, Korea chair at the Center for Strategic and International Studies, said at the Asan Plenum forum that South Korea seeking an Iran-granted transit exemption for its vessels through the Strait of Hormuz could prompt the Trump administration to impose additional punitive tariffs on Seoul. A CSIS report found that most stranded South Korean ships would remain blocked even with an Iranian exemption, as the majority have US or Saudi ownership links. South Korea's government-only oil reserves stand at 77.6 million barrels, covering approximately 26 days of supply following a contribution to the International Energy Agency's emergency release. Cha assessed that South Korea is unlikely to pursue a direct arrangement with Iran given ongoing trade and security negotiations with Washington. He indicated Seoul would more probably monitor Japan's decisions on the matter and align its response accordingly. #SouthKorea#USA @asianomics