On the 27th, the Blue House held a countermeasures meeting regarding U.S. President Donald Trump's notice of "Korean automobile item tariff and reciprocal tariff hikes," and said it "will convey to the U.S. side the intention to implement the tariff agreement." Earlier, the two countries agreed last year, after tariff and security negotiations, to lower reciprocal tariffs and item tariffs from 25% to 15%. After a special bill was introduced in November of the same year to support investment in the United States, it has been pending in the National Assembly due to differences between the ruling and opposition parties, and Trump raised the issue to pressure a re-hike of tariffs.
Kang Yu-jung, Blue House Spokesperson, said in a written briefing that "since a tariff increase takes effect only after administrative steps such as publication in the Federal Register, our government plans to calmly respond while conveying to the U.S. side our intention to implement the tariff agreement." The meeting was presided over by Policy Chief Kim Yong-beom and Office of National Security Director Wi Sung-lac, with relevant ministries attending, including Yeo Han-koo, head of the Office of the Minister for Trade at the Ministry of Trade, Industry and Resources, First Vice Minister of Finance and Economy Lee Hyung-il, and Second Vice Minister at the Ministry of Foreign Affairs Kim Jin-a.
Kang, the spokesperson, said, "At the meeting, participants reviewed the progress of the 'special bill for strategic investment management between Korea and the United States,' which is being pursued as a follow-up to the tariff negotiations."
It also said that Industry Minister Kim Jung-kwan, who departed for Canada the previous day to support a submarine project bid, will visit the United States to discuss related matters with U.S. Commerce Secretary Rutnick. Yeo Han-koo, the Deputy Minister, also plans to visit the United States soon to consult with U.S. Trade Representative Jamieson Greer at the USTR.
Earlier, on the 26th (local time), President Trump said on Truth Social, "The Korean National Assembly did not approve a historic trade agreement," and "accordingly, we will raise the tariffs imposed on Korea on all reciprocal tariffs, including automobiles, lumber, and pharmaceuticals, from the current 15% to 25%."
He also said, "I reached an excellent agreement beneficial to both countries with President Lee Jae-myung on July 30 last year, and when I visited Korea on Oct. 29 of the same year, I reaffirmed these terms, so why didn't the Korean National Assembly approve it?" and "Trade agreements are very important to the United States, and we have promptly reduced tariffs in line with the deal terms agreed to in such agreements."