Industry Minister Kim Jung-kwan said the government would continue friendly consultations with the United States to ensure changes to U.S. tariff policy do not undermine South Korean exports.

The minister made the remarks at the opening of a joint government-business meeting in Seoul to discuss the fallout of the U.S. Supreme Court decision that struck down reciprocal tariffs. 

U.S. President Donald Trump imposed a ten percent global tariff under Section 122 of the Trade Act and threatened an increase to 15 percent following Friday’s ruling.

Kim said that although reciprocal tariffs under the International Emergency Economic Powers Act(IEEPA) had been ruled unlawful, he expects Washington to continue its assertive trade policy through alternative measures such as Sections 122 and 301, thereby heightening global uncertainty.

He stressed that the government would seek to preserve the balance of interests previously secured in bilateral tariff negotiations and minimize the impact of the decision on South Korean companies.

Kim warned that a uniform 15 percent global tariff would likely alter the competitive environment for South Korean firms and pledged to bolster export competitiveness and diversify markets.