Washington, April 9 (NationPress) The United States' reciprocal tariffs, which include 25 percent duties on South Korea, officially commenced on Wednesday. This action comes as various trading partners of the U.S. are striving to negotiate terms to lower tariff levels and mitigate the possible repercussions of President Donald Trump's trade strategies on their economies.

These reciprocal tariffs, affecting nearly 60 nations, were enacted despite ongoing worries that the new U.S. tariffs might contribute to increased inflation and a slowdown in economic growth. President Trump is utilizing tariffs to enhance federal revenue, diminish the U.S. trade deficit, and stimulate domestic manufacturing, according to Yonhap news agency.

Last Wednesday, Trump introduced a minimum 10 percent “baseline” tariff that began on Saturday, along with reciprocal tariffs aimed at what his administration termed “the worst offenders,” including South Korea, Japan, and China.

The U.S. has established 24 percent reciprocal tariffs on Japan, 32 percent on Taiwan, 20 percent on the European Union, 49 percent on Cambodia, and 46 percent on Vietnam, among others.

For China, the Trump administration indicated that the cumulative tariff rate for the Asian superpower surged to 104 percent. Initially, a 34 percent reciprocal tariff was announced for China, in addition to its separate 20 percent duties on Chinese imports. An extra 50 percent tariff was later introduced after China declared a 34 percent retaliatory tariff on U.S. products.

Some items are exempt from reciprocal tariffs, including steel, aluminum, automobiles, and significant auto components — the focus of previously established industry-specific tariffs, according to the White House.

The tariffs imposed on a country-by-country basis were tailored according to each trading partner’s tariff and non-tariff barriers, as well as various factors like exchange rate policies and practices, as stated by U.S. officials.

Meanwhile, South Korea has announced plans to focus on reducing tariff rates in forthcoming negotiations with the United States.

This statement followed the initial phone conversation between acting President Han Duck-soo and U.S. President Trump on Tuesday, where they discussed a variety of topics, including tariffs, shipbuilding, potential energy deals, security, and North Korea.

“With high-level discussions having taken place, we will now formulate specific proposals and initiate negotiations on distinct issues with relevant trade authorities,” an official from the Prime Minister's Office informed reporters. “Our primary objective is to adjust U.S. tariff rates.”

South Korea’s trade minister is currently traveling to Washington to engage with U.S. Trade Representative Jamieson Greer regarding tariff negotiations.

Trump described his conversation with Han as “great,” mentioning that the two leaders covered several significant subjects, including trade, the purchase of liquefied natural gas, a pipeline endeavor in Alaska, shipbuilding collaboration, and defense cost-sharing for U.S. Forces stationed in Korea.