Cheong Wa Dae on the 12th said it will "actively consult with the United States to ensure Korea does not receive treatment unfavorable compared with major countries," after the Donald Trump administration opened a Section 301 investigation under the Trade Act to impose additional tariffs.
A Cheong Wa Dae official said, "The U.S. side said it would move to restore existing tariffs through Section 301 of the Trade Act following a ruling that reciprocal tariffs are unlawful," and added this. The official went on, "The government plans to actively consult with the U.S. side so that the balance of interests secured in the existing Korea-U.S. tariff agreement is not undermined and Korea does not receive treatment unfavorable compared with major countries."
Earlier, Jamieson Greer of the Office of the United States Trade Representative (USTR) said at a media briefing the day before (local time) that the United States would open a Section 301 investigation under the Trade Act into 16 economic actors, including Korea, China, Japan, and the European Union (EU).
Section 301 of the Trade Act authorizes the administration to respond, including by imposing tariffs, to discriminatory actions, policies, and practices of foreign governments that restrict or burden U.S. trade. The Trump administration said it is launching the investigation on grounds of "unfair trade practices related to excess production capacity" and "production of goods by forced labor."
However, it is in effect a response to the U.S. Supreme Court ruling that reciprocal tariffs are unlawful. As an interim measure, a 10% "global tariff" would be imposed for 150 days, and during that period the administration would conduct a Section 301 investigation to maintain the current tariffs.