Milan, April 9 (LaPresse/AP) – South Korea has launched a $2 billion emergency financing program worth 3 trillion won to help its automobile industry cope with the impact of the tariff increases imposed by the Trump administration. The government package announced today includes an expansion of low-cost financing from state-backed credit institutions, as well as a new financing program supported by auto giants Hyundai and Kia, along with financial institutions, aimed at assisting struggling automakers and parts manufacturers. The government will also expand subsidies for electric vehicle purchases. According to South Korea’s Ministry of Trade, Industry, and Energy, cars and auto parts are the country's main exports to the United States, raising concerns that the Trump administration’s 25% tariff on these products will have a significant impact on the sector. The ministry reports that South Korea’s car exports to the United States totaled $34.7 billion last year, while exports of auto parts amounted to $8.2 billion.