South Korea Challenges U.S. Port Fees Amid Global Auto Industry Ripples

South Korea, along with its auto association, has sought relief from a U.S. initiative enforcing port fees on foreign-built vehicle carriers. They argue the move adds strain to an industry heavily investing in the U.S.

The U.S. Trade Representative unveiled these fees to counter China's maritime influence, extending their reach beyond Chinese-affiliated ships. This decision gained attention as it could potentially disrupt the vehicle carrier sector globally.

The concern from the Korea Automobile & Mobility Association, representing major brands like Hyundai, Kia, and others, focuses on the compounded financial pressures due to existing tariffs, warning of possible adverse effects on both U.S. and South Korean economies.

(With inputs from agencies.)