South Korea will deliver its commitment to the United States to implement a trade agreement with Washington and will respond calmly to US President Donald Trump's announcement regarding the plan to raise tariffs.
The Blue House on Tuesday, January 27, said the inter-ministerial meeting was held to discuss South Korea's response, after Trump surprisingly announced plans to raise reciprocal tariffs and automotive tariffs against South Korea to 25 percent from the previous 15 percent.
Trump said the reason for the increase was the lack of progress in the legislative process in Seoul to implement the trade agreement finalized last October.
"The government will convey its commitment to implement the agreement to the US side," Presidential Spokesperson Kang Yu-jung said in a written statement reported by ANTARA from Yonhap.
Kang added that the tariff increase would only take effect after going through administrative procedures, such as official notification in the Federal Register. He emphasized that the government would respond to the announcement of the tariff increase "calmly".
In response, the Blue House said it had not received any official notification or explanation from the US government regarding the planned tariff increase.
Industry Minister Kim Jung-kwan, who is currently in Canada, is scheduled to visit the United States to discuss with US Trade Minister Howard Lutnick.
Meanwhile, Trade Minister Yeo Han-koo also plans to visit the US soon to consult with Jamieson Greer, Head of the US Trade Representative's Office (USTR).
Trump's claim that the South Korean parliament did not "fulfill" the trade agreement is allegedly referring to a special investment bill that is currently still pending in the South Korean National Assembly.
The bill was introduced by the ruling Democratic Party (DP) last November to support South Korea's investment commitment of 350 billion US dollars to the United States.
In response, the DP has held consultations with government officials and said it would review the bill and take it to a vote next month.
DP also called for bipartisan support from the main opposition party, the People Power Party, so that the bill can be passed.
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