South Korea is expected to be one of the countries most affected by the protracted trade war between the United States and China, though the impact is forecast to remain limited, a report said Sunday.
According to the report from the Korea International Trade Association, the country's gross domestic product is forecast to drop 0.018 percent, worth some $236.49 million, over a year if the US and China each impose 25 percent tariffs on the other's $50 billion worth of goods. China and the US are South Korea's top two trading partners.
The estimated damage for Korea is the second highest following that for Taiwan, whose comparable figure is expected to stand at 0.025 percent. Canada came in third with 0.016 percent, followed by Mexico with 0.014 percent and Ireland with 0.012 percent, the report said.
American and Chinese national flags fly outside a business complex in Beijing on August 11, 2018. (UPI-Yonhap)
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