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South Korea Prioritizes Minimizing Trade Risks in Response to Evolving U.S. Tariff Policies

Seoul: The government will focus efforts on minimizing trade risks for South Korean companies as U.S. tariff policy continues to evolve after the U.S. Supreme Court's ruling against Washington's "reciprocal" tariffs, Seoul's trade minister said Tuesday.

According to Yonhap News Agency, Trade Minister Yeo Han-koo made such a remark at a meeting with trade experts held to discuss South Korea's response strategy to shifting U.S. trade policies, as shared by the Ministry of Trade, Industry and Resources.

Yeo evaluated that U.S. President Donald Trump's tariff policies are becoming more complex and are expected to undergo structural changes. He emphasized that the Seoul government needs to implement strategic measures that extend beyond short-term responses.

Further, the government will maintain close consultations with the U.S., prioritizing national interest, and will focus on minimizing trade risks to reduce uncertainties for Korean companies. Yeo highlighted the importance of developing a long-term strategy to adapt to changes in Washington's trade paradigm while maintaining a comprehensive response system.

The U.S. Supreme Court recently invalidated Trump's use of the 1977 International Emergency Economic Powers Act (IEEPA) to justify certain duties, including 25 percent reciprocal tariffs on Korea. In response to the ruling, Trump announced a new temporary global tariff of 10 percent and vowed to introduce "new and legally permissible" duties to replace the nullified reciprocal tariffs.

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