S. Korea gears up for U.S. Tariff announcements which may come within a month

Korean trade officials are actively reaching out to corporate heavyweights for talks on ways to navigate U.S. tariffs following Trump's most recent remarks about announcing 25-percent tariffs on cars chips and pharmaceutical products into the American market.

Kim Jung-sil reports.

U.S. President Donald Trump is fast-tracking his plans, revealing that new tariffs will be announced sooner than the originally planned April timeline.

"I'm going to be announcing tariffs on cars and semiconductors and chips and pharmaceuticals, probably and some other things over the next month or sooner."

In response to the latest trade measures by the U.S., South Korea is intensifying efforts to protect key industries.

On Thursday, the Ministry of Trade held a high-level meeting with senior officials from nine major companies, including Samsung, Hyundai, and LG, to discuss how to handle the looming tariffs.

Minister for Trade Cheong In-kyo emphasized that the government is fully mobilizing its channels with the U.S. to help South Korean industries overcome the uncertainty they are facing.

He added that the government will strengthen collaboration with private think tanks to refine its response strategies.

At a separate meeting, the Trade Ministry held the second session of the Industry Policy Council in Seoul, chaired by Deputy Minister for Industrial Policy Lee Seung-ryeol.

The meeting gathered officials from 10 major sectors, including semiconductors, automobiles, steel, and biotech, to discuss the latest developments.

They emphasized the need for bold tax incentives to stimulate investment.

Both the government and private sector plan to collaborate with counterparts in the EU and Japan facing similar challenges.

Kim Jung-sil, Arirang News.