SEOUL, March 5 — South Korea’s acting President Choi Sang-mok today ordered a review into the impact of United States tariffs on Canada, Mexico and China that came into force this week.
Choi also ordered support measures to be prepared for domestic firms operating businesses in those countries and to be ready for consultations with the US at a working level on reciprocal tariffs expected to be announced next month.
In an address to Congress, US President Donald Trump highlighted his tariff plans and said it was now the turn of his country to use tariffs against other nations in the way they had against the US.
He argued in his speech that South Korea’s average tariff was four times higher than the level in the US, despite what he said was all the military and other assistance the US provided to the country.
South Korea disputed this and its trade ministry said tariff rates on imports from the US stood at around 0.79 per cent as of last year under the free trade agreement between the countries.
Seoul would actively communicate with Washington about its tariffs through multiple channels, the ministry said.
— Reuters
