South Korea Waits Out US-China Trade War
Juhyun Lee contributed to this report. SEOUL -- As U.S. President Donald Trump intensifies his trade battle with China, one of the hardest-hit countries could be South Korea. Asia’s fourth-largest economy, South Korea is especially vulnerable to the tariff war because of its reliance on foreign trade -- in particular, exports to its two biggest trading partners: China and the United States. After U.S.-China trade talks broke down, Trump last week raised tariffs on $200 billion worth of Chinese imports, and threatened to do so with $300 billion more. China retaliated with tariffs on $60 billion of U.S. goods. The trade war escalation, which rattled markets and threatened to hold back global growth, comes at an especially bad time for South Korea, whose economy unexpectedly contracted in the first quarter.…