The Ministry of Trade, Industry and Resources said on the 12th that the Office of the United States Trade Representative (USTR) requested written comments from the 17th of this month to the 15th of next month regarding Section 301 of the Trade Act, for which it has launched an investigation. Section 301 of the Trade Act allows the United States to exercise retaliatory authority, such as imposing additional tariffs and restricting imports, services, and investment, when there are unfair acts by foreign governments against U.S. corporations. In particular, because there is no upper limit on tariff rates, it is also called the "super 301."
The Ministry of Trade and Industry (MOTI) said in a briefing sent to reporters that day that the USTR requested consultations with the countries under investigation to proceed with the Section 301 process. It added that written comments must be submitted from Mar. 17 to Apr. 15 and that the USTR plans to hold a public hearing on May 5.
The Ministry of Trade and Industry (MOTI) went on to say that the U.S. government has said it plans to restore U.S. tariff levels to those before the Supreme Court's invalidation ruling on the International Emergency Economic Powers Act (IEEPA), using Trade Act Sections 122 and 301. It added that during the investigation, the government will work closely with the United States to ensure that the balance of benefits under the existing Korea-U.S. tariff agreement is not undermined and that Korean corporations' export conditions to the United States are not disadvantaged compared with major countries.
The USTR said that day it is launching a Section 301 investigation under the Trade Act against 16 countries, including Korea, Japan, and China. Earlier, on the 20th of last month, the U.S. Supreme Court ruled invalid the 15% reciprocal tariff that President Trump imposed on major countries after taking office. On the day of the ruling, President Trump held a press conference and said, "Under Section 122 of the Trade Act, we will impose a 10% tariff on all trading partners worldwide and begin a Section 301 investigation."
Section 301 of the Trade Act has no upper limit on the tariff rate that can be imposed. Accordingly, it was assessed as the toughest of the alternative tariff tools the Trump administration considered as a Plan B after the Supreme Court ruling. Jamieson Greer, the USTR representative, said at a press briefing that day, "Our goal is to conclude this investigation before the 150-day deadline for the 10% tariff imposed under Section 122 of the Trade Act expires (in late July)."
The USTR plans to receive written comments from the countries under investigation, hold a public hearing, and then receive rebuttal comments. It is said to be set to announce the results of the investigation after internal review. Depending on the outcome, it may take measures such as imposing additional tariffs.