South Korean Prime Minister Han Duck-soo announced on Thursday that the government will utilize all available measures to address the United States’ proposed tariff impositions, signaling a firm stance amid escalating global trade tensions.
“As the global tariff war becomes a reality, our government must harness all of its capabilities to overcome this trade crisis,” Han stated during an emergency meeting on economic security strategy. The meeting was attended by top officials from the economy, industry, and trade sectors.
Prime Minister Han urged ministers to closely analyze the details and potential impacts of the U.S. tariff proposals. He emphasized the importance of active engagement in negotiations with the United States to minimize potential damages to South Korean industries.
“Supporting measures for industries and companies affected by the U.S. tariff imposition, such as the automotive sector, should be prepared promptly at a pan-governmental level,” Han added.
The call to action comes after the United States unveiled plans to impose a 10 percent tariff on imports from all countries, along with country-specific reciprocal tariffs, including a 25 percent tariff on imports from South Korea.
South Korea, officially known as the Republic of Korea, is a major player in global trade, with industries like automotive and technology heavily intertwined with international markets. The proposed tariffs could significantly impact its economy.
The South Korean government is now gearing up to mitigate the adverse effects and seek collaborative solutions through diplomatic channels.
