Seoul assesses impact and uncertainty after US tariff ruling

SEOUL, February 23 (AJP) - South Korea will continue discussions with the U.S. on tariff-related issues "in an amicable manner," Trade, Industry and Energy Minister Kim Jeong-gwan said on Monday.

The trade chief said the government will ensure that the terms of a tariff deal finalized late last year are not undermined, after U.S. President Donald Trump threatened a new temporary global tariff of 15 percent following the U.S. Supreme Court's nullification of reciprocal tariffs.

Kim's remarks came during an emergency meeting at the Korea Chamber of Commerce and Industry in Seoul, attended by relevant government ministries and agencies, as well as business groups.

The meeting was convened after the U.S. Supreme Court struck down the use of the International Emergency Economic Powers Act (IEEPA) for tariffs, prompting Trump to announce follow-up measures including global tariffs under Section 122 of the Trade Act and a Section 301 investigation.

Participants assessed the potential impact on South Korea's industries and exports and discussed possible response measures.

Kim added that the government will work with relevant agencies and industry groups to keep companies informed amid global trade uncertainty. "We will unwaveringly pursue policies to strengthen the competitiveness of [South Korean] companies and diversify export channels in response to potential changes in trade conditions," he said.