Washington: U.S. President Donald Trump could respond to South Korea's engagement with Iran by imposing additional tariffs if Seoul secures an exemption for its ships' transit through the Strait of Hormuz, according to a U.S. expert. Victor Cha, Korea chair at the Center for Strategic and International Studies (CSIS), highlighted the potential repercussions during a forum, stating that South Korea is navigating a challenging situation with limited favorable options regarding its vessels stranded in shipping routes blocked by Tehran.

According to Yonhap News Agency, Cha emphasized that Seoul's move to engage with Tehran to facilitate the passage of its vessels through the waterway could provoke a negative reaction from Trump, potentially leading to punitive tariffs. He shared these insights at a press conference during the Asan Plenum, hosted by the Asan Institute of Policy Studies. Cha noted that the CSIS' findings reveal that only a small number of the stranded ships could pass through the strait, as most are owned by U.S. or Saudi entities.

The CSIS report indicates that three out of four major South Korean refiners have ownership ties to the U.S. or Saudi Arabia, with SK Energy being the exception. It also highlights that South Korea's government-only oil reserves would last merely 34 days, while the total reserves, including private sector stocks, would suffice for about 67 days. Following Seoul's contribution to the International Energy Agency's emergency release, these reserves have diminished to 77.6 million barrels, covering approximately 26 days.

Given the alliance and ongoing trade and security negotiations with Washington, Cha suggested that Seoul is unlikely to pursue an exemption from Iran. He proposed that other alternatives for South Korea might involve increasing oil imports from Russia, contingent on a U.S. exemption over sanctions against Moscow. However, Cha described this as a temporary measure that fails to address long-term energy supply challenges.

"It's a stopgap measure, and it's not the answer at all," Cha stated, expressing skepticism that South Korea would initiate an agreement with Iran. He speculated that South Korea would likely observe Japan's actions and follow a similar course in response to the situation.