主力出口产品承压，后续谈判仍处僵局，关税冲击令8月韩对美出口骤降12%

Group 1: Export Performance - In August, South Korea's exports to the US recorded the largest decline since May 2020, with a year-on-year drop of 12.0% to $8.74 billion, primarily due to high tariffs on key products like automobiles and steel [1][2] - Among the 15 main export categories to the US, 11 experienced a decline, with steel exports plummeting by 32.1%, ordinary machinery down 12.8%, and secondary batteries down 23.7% [2][3] - August marked the first time in two years that South Korea's monthly exports to the US fell below $9 billion, indicating a significant impact from the ongoing tariff situation [3] Group 2: Manufacturing Sector - The manufacturing sector in South Korea has shown continuous contraction, with the manufacturing PMI at 48.3 in August, remaining below the neutral line of 50 for seven consecutive months [4] - The uncertainty surrounding tariffs and global trade risks is contributing to a deteriorating manufacturing environment, with potential negative effects on overall economic confidence [4] Group 3: Investment Commitments - Disagreements over a $350 billion investment commitment between South Korea and the US are complicating bilateral trade relations, with the US requiring a detailed implementation plan before considering tariff reductions [5][6] - The South Korean government plans to allocate $150 billion to the shipbuilding industry and $200 billion to strategic sectors like semiconductors and batteries, but the US demands a higher proportion of direct investment [5][6] - The ongoing negotiations have led to a stalemate, with the US insisting on "discretionary funds" from South Korea, which has been met with resistance from the South Korean side [6]