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President Lee Jae Myung of South Korea. (Yonhap)
The Blue Home mentioned it was planning on holding a gathering concerning the shock announcement by US President Donald Trump that he could be elevating tariffs on Korean exports from 15% to 25%, including that it deliberate to debate the matter with US Commerce Secretary Howard Lutnick.
The Ministry of Financial system and Finance additionally mentioned it was “trying into” what prompted the announcement.
“US President Donald Trump posted an announcement on Fact Social that reciprocal tariffs and tariffs on cars and auto parts shall be raised from 15% to 25% in response to delays by Korea’s Nationwide Meeting in placing laws on strategic investments within the US up for a vote,” the Blue Home’s press workplace mentioned in an announcement to the press on Tuesday morning.
“We now have but to obtain any official discover or particulars instantly from the US administration,” the Blue Home mentioned.
Trump’s announcement got here in a put up to Fact Social on Monday (native time).
“South Korea’s Legislature shouldn’t be residing as much as its Cope with the US,” he wrote. He then introduced that the US would enhance tariffs on Korean autos, lumber, prescribed drugs, and all different reciprocal tariffs from 15% to 25%.
“Our Commerce Offers are essential to America,” the president’s put up started. “In every of those Offers, we’ve got acted swiftly to cut back our tariffs in step with the Transaction agreed to. We, in fact, count on our Buying and selling Companions to do the identical.”
The Blue Home mentioned it “deliberate to carry a response assembly with heads of related ministries, presided over by the presidential secretary for coverage” on Tuesday morning.
“Commerce Minister Kim Jung-kwan, who’s presently in Canada, is planning on swiftly going to the US to debate the matter with US Commerce Secretary Howard Lutnick,” the Blue Home added.
The Ministry of Financial system and Finance’s press workplace additionally issued an announcement on Tuesday saying it could “proceed to speak with the US by explaining the deliberation course of concerning the related invoice in Korea’s Nationwide Meeting.”
“For starters, we had been planning on requesting the Nationwide Meeting’s cooperation throughout a gathering scheduled for this afternoon between the deputy prime minister and the chairperson of the Finance, Financial system, Planning and Finances Committee this afternoon. We are going to proceed discussing the matter whereas proactively consulting with the Nationwide Meeting.”
By Shin Hyeong-cheol, workers reporter; Park Su-ji, workers reporter
Please direct questions or feedback to [english@hani.co.kr]
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