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South Korea says U.S.-China trade war may reduce exports of intermediary goods

Reuters 2018-07-12 07:34:54

SEOUL (Reuters) - South Korea said on Thursday that an escalating trade dispute between the United States and China could weaken South Korea’s exports of “intermediary goods” used in home appliances, computers and communications devices.

FILE PHOTO: Shipping containers are seen at the Hanjin Shipping container terminal at Incheon New Port in Incheon, South Korea, September 7, 2016. REUTERS/Kim Hong-Ji/File Photo

South Korea’s trade ministry said in a statement that the trade spat could be “prolonged and spread,” adding that it would prepare responses and scenarios to cope with the trade row.

On Wednesday, China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.

Reporting by Hyunjoo Jin and Jane Chung; Editing by Sam Holmes