South Korea has warned that the escalating trade war between the US and China could hit its exports of “intermediary goods” used in Chinese home appliances, computers and telecoms devices, highlighting growing concerns over the economic impact of the trade row on third countries.
Seoul’s trade ministry expressed concerns on Thursday that the spat between the world’s two largest economies could be “prolonged and spread”, complicating its efforts to cope with the fallout on South Korea.
Earlier this week, US President Donald Trump kicked off the process of imposing tariffs on a further $200bn of imports from China, just days after imposing punitive duties on $34bn of Chinese goods, prompting Beijing to warn of retaliation against the US.
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