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The mian constructing of Cheong Wa Dae / Joint Press Corps
Screenshot from U.S. President Donald Trump’s Reality Social account
The Korean authorities mentioned on Tuesday it has not but obtained any official notification or detailed rationalization from Washington about U.S. President Donald Trump’s on-line announcement that he would increase tariffs on Korean merchandise from 15 p.c to 25 p.c.
Cheong Wa Dae’s response happened an hour after Trump posted the scheme on his Reality Social platform, saying Korea’s Nationwide Meeting has not permitted the tariff settlement reached in October final yr.
“President Trump posted on his Reality Social account that he would improve the auto tariff and reciprocal tariffs on Korean items from 15 p.c to 25 p.c, citing a delay in Korean Meeting’s approval of the related legislation. We have not been formally notified or obtained an in depth rationalization from the U.S. authorities,” it mentioned in a launch to reporters.
“A high-level emergency assembly chaired by Kim Yong-beom, presidential chief of employees for coverage, will likely be held later this morning, with officers from related ministries in attendance, to evaluate the scenario and formulate a response,” it mentioned.
Cheong Wa Dae added Business Minister Kim Jung-kwan, who’s at present in Canada, additionally plans to journey to america as quickly as potential to debate the difficulty along with his U.S. counterpart, Commerce Secretary Howard Lutnick.
Earlier within the morning, Trump posted that he would improve tariffs on cars and different Korean items, citing delays by Korea’s Nationwide Meeting in passing laws required to implement bilateral commerce agreements.
“South Korea’s Legislature shouldn’t be dwelling as much as its Cope with america,” Trump wrote. “As a result of the Korean Legislature hasn’t enacted our Historic Commerce Settlement, which is their prerogative, I’m hereby rising South Korean TARIFFS on Autos, Lumber, Pharma, and all different Reciprocal TARIFFS, from 15% to 25%.”
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