Anchor: Seoul says it will continue to hold amicable consultations with Washington amid changes in U.S. President Donald Trump’s tariff policies after his country’s Supreme Court struck down his sweeping global tariffs. Industry Minister Kim Jung-kwan says the plan is to maintain the framework for investment in the U.S. to safeguard export conditions and industry interests.
Rosyn Park reports.

Report: Industry Minister Kim Jung-kwan presided over a joint public-private meeting on Monday to weigh countermeasures against the Trump administration’s efforts to impose a 15 percent tax on all imports after the U.S. Supreme Court ruled that the sweeping tariffs it imposed on nearly every country were illegal.

Kim told senior officials from across the government and industry representatives that if the U.S. imposes a uniform global tariff, it will likely alter the competitive landscape for South Korean businesses.

He also said the Trump administration will continue to find other ways to pursue tariffs.

Despite the uncertainties, Kim explained, the government will continue to hold “amicable” consultations with Washington and proceed with its pledged 350 billion dollar investment in the U.S., in keeping with the core framework of the trade agreement reached between the two countries last year.

He added that the selection process for the investment projects is still underway.

The Ministry of Finance and Economy also held a meeting with officials from the Bank of Korea and the Financial Services Commission.

Those present assessed that the ruling against Trump’s tariffs had limited global market impact. 

But since external risks still remain, they said they’ll continue to monitor markets around the clock.
Rosyn Park, KBS World Radio News.