Washington: U.S. President Donald Trump announced Thursday that he is contemplating raising tariffs on imported cars "in the not-too-distant future." This announcement was part of his defense for the new 25 percent tariffs, which he claims are meant to protect American autoworkers.

According to Yonhap News Agency, Trump made these remarks during a bill signing ceremony at the White House. This comes amid worries that the administration's new tariffs could significantly impact South Korea's economy, which is heavily reliant on trade.

During the ceremony, Trump stated, "To further defend our autoworkers, I imposed this 25 percent tariff on all foreign automobiles, and investment in American manufacturing and auto manufacturing... is surging." He added, "I might go up with that tariff in the not-too-distant future. The higher you go, the more likely it is they build a plant here."

This statement was made in the context of signing a bill that blocks California's plan to end the sale of gasoline-only cars by 2035. The new automobile duties implemented by the Trump administration became effective on April 3, posing challenges to South Korea's automotive sector.

In response, Seoul has been in negotiations with Washington to secure a comprehensive agreement that could mitigate the effects of the U.S.'s new tariffs, which include a 50 percent levy on steel and aluminum. The U.S. is a major market for South Korean car exports, accounting for $34.7 billion, or 49.1 percent, of South Korea's total car exports last year. Hyundai Motor Group and GM Korea exported approximately 970,000 and 410,000 units to the U.S., respectively, last year.