South Korea President Lee Jae Myung announced on Wednesday that he would proceed with discussions based on existing agreements regarding the United States’ move to increase reciprocal tariffs.
During a luncheon with the Democratic Party’s senior advisory group at the Blue House, President Lee said that regardless of any situation in the United States, it was a commitment made between the two leaders. He added that the two sides would move forward steadily while coordinating schedules with Washington, according to Blue House chief spokesperson Lee Gyu Yeon.
Despite the U.S. Supreme Court ruling that reciprocal tariffs are illegal, former President Donald Trump is implementing new tariff measures through trade laws and the Trade Expansion Act. He is pressuring South Korea to impose reciprocal tariffs ranging from 15% to 25%, citing delays in processing the special law on tariffs against the U.S.
The Blue House announced through a press release that the Ministry of Trade, Industry, and Energy and other departments are closely communicating with the U.S. Department of Commerce and the Office of the United States Trade Representative (USTR) to monitor the situation.
Regarding foreign media reports that the Trump administration is considering national security tariffs under Section 232 of the Trade Expansion Act, the Blue House said there has been no official announcement from the U.S. government regarding new tariffs under Section 232.
Section 232 of the U.S. Trade Expansion Act authorizes the President to impose tariffs if he determines that imports of certain items pose a threat to national security.
Earlier, foreign media outlets, including the Wall Street Journal, reported that the Trump administration is considering imposing new tariffs on key industrial sectors, such as batteries, power grids, and telecommunications equipment, under Section 232 of the Trade Expansion Act.