Amid rising trade tensions between the U.S. and South Korea, former President Donald Trump has announced plans to impose a 25% retaliatory tariff on all South Korean imports starting August 1 KST, causing anxiety among K-pop fans and global consumers.
According to reports from The New York Times and Quartz, the announcement has triggered a wave of panic buying across the U.S., with fans rushing to purchase K-pop albums, merchandise, and Korean cosmetics before the tariff takes effect.
Trump’s statement has raised alarms in the entertainment industry. Quartz reported:
“This unexpected move could significantly impact the K-pop industry, particularly its physical sales and merchandise business.”
South Korea’s Korea Customs Service reported that the country exported over $292 million USD in physical K-pop albums last year, with the U.S. being a major consumer market. Any price surge in albums or official goods could alienate fans, potentially leading to backlash or even reduced sales.
“K-pop fans don’t just stream music—they invest in albums and merchandise,” Quartz noted. “Physical albums are not only a key revenue source but a cornerstone of artist branding. Trump’s tariff leaves no exception for culture.”
On social media platform X (formerly Twitter), K-pop fans voiced frustration:
“I panic-bought merch because of the 25% tariff. I hope it arrives before August 1.”
“Albums are already expensive. This is insane. I might not be able to buy anything for a while.”
“Is Trump trying to make K-pop fans mad on purpose?”
Meanwhile, high-level trade negotiations are underway between Seoul and Washington to avoid a full-scale tariff implementation. South Korean Finance Minister Koo Yun Cheol met with U.S. Secretary of Commerce Howard Lutnick on July 29 and is set to meet U.S. Treasury Secretary Scott Besant in Washington, D.C., on July 31 in an attempt to settle the dispute before the deadline.
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