South Korea will send Trade Minister Yeo Han-koo and Industry Minister Kim Jung-kwan to Washington after President Trump announced an increase in "reciprocal" tariffs from 15% to 25%. The move followed an emergency meeting chaired by Kim Yong-beom and comes amid tensions over a regulatory probe into Coupang. Seoul says it will respond calmly while reiterating its commitment to the trade deal that included a $350 billion investment pledge to the U.S. Markets initially dipped but the KOSPI closed at a record 5,084.85.
South Korea Sends Senior Trade Delegation to Washington After Trump Raises Tariffs to 25%
Seoul said Tuesday it will dispatch trade officials to Washington after U.S. President Donald Trump, seen here at the White House on Jan. 20, announced he was raising tariffs on South Korean goods. Photo by Aaron Schwartz/UPI
South Korea said Tuesday it will dispatch a delegation of senior trade and industry officials to Washington after U.S. President Donald Trump announced a sharp increase in tariffs on Korean goods, the Ministry of Trade, Industry and Resources said.
Delegation and Purpose
Trade Minister Yeo Han-koo and Industry Minister Kim Jung-kwan will travel to the United States to meet their American counterparts to discuss the tariff hike, the ministry said in a press release. The decision followed an emergency interagency meeting chaired by presidential policy chief Kim Yong-beom, convened hours after Trump's surprise announcement on social media.
Tariff Move and Rationale
Trump said he was raising so-called "reciprocal" tariffs on South Korea from 15% back to 25%, accusing Seoul's National Assembly of failing to act quickly enough to implement a bilateral trade agreement finalized late last year. He indicated that higher duties would apply to automobiles, lumber, pharmaceuticals and other goods covered by the deal.
"South Korea's Legislature is not living up to its Deal with the United States," Trump wrote earlier Tuesday on his Truth Social platform.
Timing, Meetings and Next Steps
The implementing legislation was submitted to the National Assembly by the ruling Democratic Party in November but has not yet been passed. The ministry said Kim, who is currently in Canada, will travel to Washington as soon as his schedule permits to meet with U.S. Commerce Secretary Howard Lutnick. Yeo will leave Seoul to hold talks with U.S. Trade Representative Jamieson Greer.
Background Of The Trade Deal
The tariff announcement reverses concessions made when Trump and South Korean President Lee Jae Myung finalized trade negotiations on the sidelines of the Asia-Pacific Economic Cooperation forum in Gyeongju on Oct. 29. A fact sheet released in November outlined terms under which U.S. tariffs on South Korean goods, including automobiles, would be reduced from 25% to 15%.
In return for lower tariffs, Seoul pledged $350 billion in U.S. investment: $150 billion targeted to U.S. shipbuilding and $200 billion for strategic industries under a memorandum of understanding to be signed by both governments. The fact sheet also recorded Washington's approval of South Korea's plan to develop nuclear-powered submarines, framed by Seoul as part of broader industrial and security cooperation.
Political Context And Market Reaction
The tariff move comes amid tensions related to a South Korean regulatory probe of Coupang, the U.S.-listed e-commerce firm, following a large-scale data breach. On Friday, Prime Minister Kim Min-seok said he raised the matter directly with U.S. Vice President JD Vance, emphasizing that American firms were not being singled out: "I made it clear that there has been no discriminatory treatment against U.S. companies," Kim told Korean correspondents in Washington, D.C.
After Tuesday's emergency meeting, the presidential office said Seoul would respond "calmly" to the tariff increase. Presidential spokeswoman Kang Yu-jung noted the tariff hike will only take effect after administrative steps such as publication in the Federal Register, and that the Korean government intends to calmly convey its commitment to implementing the agreement to the U.S. side.
South Korean stocks initially fell on the news, with the benchmark KOSPI dropping 0.84% in the first 15 minutes of trading before reversing earlier losses to rise 2.73% and close at an all-time high of 5,084.85.
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