On the 21st, the Blue House said of the U.S. Supreme Court's ruling that the reciprocal tariff introduced by the Trump administration was unlawful, "We plan to comprehensively review the details of the U.S. Supreme Court ruling and the U.S. government's position and proceed in the direction that best serves the national interest."
Earlier, U.S. President Donald Trump on Apr. 2 last year declared a national emergency, claiming the United States' chronic, large trade deficit and the illegal inflow of drugs (fentanyl) across the border were a "national security threat." He then imposed a reciprocal tariff on U.S. trading partners based on the International Emergency Economic Powers Act.
Under the Korea-U.S. Free Trade Agreement (FTA), tariffs on most items had been eliminated, effectively imposing a 0% tariff on Korea. The Trump administration announced it would impose a 25% reciprocal tariff on Korea, and our government, after negotiations with the United States, reduced the reciprocal tariff to 15% in Oct. last year. The condition was a total investment of $350 billion in the United States, including $150 billion in the shipbuilding sector.
On the 20th (local time), the U.S. Supreme Court affirmed the lower court's ruling that the reciprocal tariff measure was unlawful because the president has no authority to impose a tariff under the International Emergency Economic Powers Act. However, the Trump administration's position is that it will maintain the reciprocal tariff policy through other means.