Trump tariffs to raise Hyundai Motor's raw material cost -S.Korea govt official

Dongkuk Holdings Co

09/03/2018 03:17

SEOUL, March 9 (Reuters) - South Korea's Hyundai Motor
 005380.KS  will pay higher raw material costs due to U.S.
President Donald Trump's tariffs on steel and aluminum, a senior
South Korean government official said on Friday.
    "Higher tariffs will increase costs of Hyundai and Kia,
putting them at a disadvantage compared with their rivals in the
United States," the senior trade ministry official told
reporters in a background briefing, referring to Kia Motors
 000270.KS .
    The South Korean official said the tariffs would impact the
renegotiation of the bilateral free trade deal with the United
States that is currently underway.

 (Reporting by Hyunjoo Jin, Writing by Ju-min Park; Editing by
Muralikumar Anantharaman)
 ((ju-min.park@thomsonreuters.com; +82 2 3704 5650; Reuters
Messaging: ju-min.park.thomsonreuters.com@reuters.net))