SEOUL — South Korea’s Ministry of Trade, Industry and Resources held an emergency meeting Saturday to assess the fallout from the U.S. Supreme Court’s decision striking down President Donald Trump’s global tariffs. Officials concluded that risks to bilateral trade have sharpened, particularly for the 15 percent duties previously imposed on South Korean goods.
The court found the tariffs violated the International Emergency Economic Powers Act, a law Trump invoked to justify broad import levies. Ministry officials said this invalidates those specific duties on South Korean products. They stressed, however, that other tariffs remain untouched, including longstanding ones targeting automobiles and steel from South Korea.
“We will direct all efforts toward safeguarding national interests,” the ministry stated after the session. The assessment came amid broader U.S. trade maneuvers. Officials highlighted a looming complication: the White House’s intention to enact a 10 percent tariff on imports from all countries under Section 122 of the Trade Act of 1974.
That provision empowers the president to impose duties up to 15 percent to combat a “large and serious balance-of-payments deficit,” according to White House explanations. South Korean policymakers vowed to curb disruptions from this potential shift. Exports to the U.S. represent a vital slice of the economy, with automobiles, electronics and steel making up major shares.
The Supreme Court’s ruling disrupts Trump’s tariff strategy, which blanketed goods from multiple nations. South Korea, a key U.S. trading partner, now faces a mixed picture. While IEEPA-based tariffs vanish, alternative legal avenues keep pressure on sensitive sectors like autos and metals.
Ministry representatives mapped out response strategies during the two-hour meeting in Seoul. They plan close monitoring of U.S. legislative moves and potential negotiations. “Uncertainties demand swift action,” one official remarked, pointing to volatile supply chains already strained by global tensions.
Trump’s tariff push began in earnest during his presidency, aiming to protect American industries. South Korea adapted by diversifying markets and boosting competitiveness. Yet the court’s intervention reopens questions about trade stability. Economists predict short-term relief for exporters, tempered by the pending Section 122 tariffs.
The government also eyes ripple effects on regional partners. Japan and the European Union, hit by similar measures, could see parallel shifts. For South Korea, the focus narrows to Washington. Diplomatic channels stand ready, officials said, to address any escalations.
Saturday’s meeting highlights Seoul’s proactive stance. Trade ministry data shows U.S.-bound exports topped $80 billion last year, highlighting the stakes. As details emerge on U.S. implementation, South Korea prepares contingency plans to shield jobs and growth.
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