>Following Trump’s announcement, the stock prices of Hyundai Motor and Kia fell about 5 percent during Tuesday’s trading session but recovered much of the losses in the afternoon, closing 0.81 percent and 1.1 percent lower than the previous session, respectively.
>The benchmark KOSPI also started lower but went on to hit a new intraday record high during the session and closed at 5,084.85 points, marking the first time it has finished above the 5,000 level.
>**“The KOSPI seems to be getting used to TACO,”** Shinhan Investment & Securities analyst Lee Jae-won said, referring to the phrase “Trump Always Chickens Out.”
>Meritz Securities analyst Kim Joon-sung estimated that a 10 percentage point increase in auto tariffs would result in additional operating costs of 3.1 trillion won ($2.14 billion) for Hyundai Motor and 2.2 trillion won for Kia, potentially cutting their 2026 operating profits by about 23 percent and 21 percent, respectively.
>However, he stressed that “the issue is ultimately a matter of time before it is resolved,” adding that he expects auto tariffs to return to 15 percent soon.
Global trade order is learning to survive with Trump because no one takes him seriously anymore. Countries like Korea are correctly recognizing him as a demented grifter who can be individually dealt with rather than a leader representing his country’s best interests.
But while his threat to the global trade order is no longer as meaningful, he does still pose a major threat to American democracy and citizens.
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Important excerpt:
>Following Trump’s announcement, the stock prices of Hyundai Motor and Kia fell about 5 percent during Tuesday’s trading session but recovered much of the losses in the afternoon, closing 0.81 percent and 1.1 percent lower than the previous session, respectively.
>The benchmark KOSPI also started lower but went on to hit a new intraday record high during the session and closed at 5,084.85 points, marking the first time it has finished above the 5,000 level.
>**“The KOSPI seems to be getting used to TACO,”** Shinhan Investment & Securities analyst Lee Jae-won said, referring to the phrase “Trump Always Chickens Out.”
>Meritz Securities analyst Kim Joon-sung estimated that a 10 percentage point increase in auto tariffs would result in additional operating costs of 3.1 trillion won ($2.14 billion) for Hyundai Motor and 2.2 trillion won for Kia, potentially cutting their 2026 operating profits by about 23 percent and 21 percent, respectively.
>However, he stressed that “the issue is ultimately a matter of time before it is resolved,” adding that he expects auto tariffs to return to 15 percent soon.
Global trade order is learning to survive with Trump because no one takes him seriously anymore. Countries like Korea are correctly recognizing him as a demented grifter who can be individually dealt with rather than a leader representing his country’s best interests.
But while his threat to the global trade order is no longer as meaningful, he does still pose a major threat to American democracy and citizens.