SOUTH KOREA ON ALERT AFTER TRUMP SIGNALS TARIFF HIKE
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By: Balogun Ibrahim
South Korea’s government held emergency talks on Tuesday following an announcement by US President Donald Trump that tariffs on South Korean exports including automobiles, lumber and pharmaceuticals would be raised.
In a statement issued on Monday, Trump accused South Korea of failing to comply with a previously agreed trade agreement with the United States. Under the proposal, tariff rates would increase from 15 per cent to 25 per cent.
“South Korea’s Legislature is not living up to its deal with the United States,” Trump said in a post on Truth Social, adding that the move was driven by Seoul’s delay in implementing the agreement, “which is their prerogative.”
South Korea’s presidential office said it had not received prior official notification of the planned tariff changes. Officials convened an emergency meeting to assess potential responses, with Trade and Industry Minister Kim Jung-kwan joining remotely from Canada.
In a statement, the office said the government would reaffirm its commitment to implementing the tariff agreement while taking a “calm and diplomatic” approach.
Seoul also noted that the proposed US tariff increases would only take effect after administrative steps are completed, including publication in the Federal Register.
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Trade Minister Kim is expected to travel to Washington to hold direct talks with US Commerce Secretary Howard Lutnick in an effort to resolve the issue.
The development comes months after Washington and Seoul concluded a trade and security agreement following a meeting between Trump and South Korean President Lee Jae Myung in October. The agreement included mutual investment pledges and US tariff reductions on South Korean automobiles.
South Korean officials have maintained that the deal does not require parliamentary approval, describing it as a memorandum of understanding rather than a legally binding statute.
A senior government official said on Tuesday that authorities are reviewing the agreement’s parliamentary status.
Under the original deal, US tariffs on South Korean cars were lowered from 25 per cent to 15 per cent, alongside reductions on vehicle parts and pharmaceuticals, making the agreement a central pillar of bilateral trade ties.
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