South Korea faces mounting U.S. tariff uncertainty

U.S. President Donald Trump said the United States would reimpose a 25 percent reciprocal tariff on South Korea, along with additional duties on automobiles, prompting South Korea’s Trade, Industry and Energy Minister Kim Jung-kwan to make an urgent trip to Washington. Kim returned home without securing an immediate breakthrough and warned that the United States has already begun procedural steps toward raising tariffs.

“The United States has already started preparations, including steps to publish the tariff increase in the Federal Register,” Kim said, signaling that the reimposition of tariffs could materialize at any time given the prevailing atmosphere in Washington.

Kim spoke to reporters after arriving at Incheon International Airport on Jan. 31, saying talks with U.S. officials had deepened mutual understanding. “Our understanding of each other has grown considerably, and I believe any unnecessary misunderstandings have been resolved,” he said. Kim traveled to the United States immediately after Trump’s announcement and focused on conveying South Korea’s position during meetings with U.S. Commerce Secretary Howard Lutnick on Jan. 30 and 31 local time.

Kim said U.S. officials expressed disappointment over delays in South Korea’s proposed special law governing outbound investment to the United States, which remains pending in the National Assembly. The bill was submitted in November, but legislative attention shifted in December to passage of the 2026 budget and in January to confirmation hearings for the head of the Ministry of Economy and Finance. Kim said he explained that these circumstances left little room to advance deliberations on the legislation.

The more pressing concern, he said, is that the U.S. government’s internal process to reinstate tariffs has moved onto a practical track. Asked whether higher tariffs were likely to be implemented, Kim said the process was already underway. “Beyond President Donald Trump’s message, preparations for a tariff increase have begun,” he said. "U.S. authorities are preparing to publish the measure in the Federal Register." With Washington able to finalize a decision at any time, uncertainty facing South Korean exporters continues to grow.

The South Korean government plans to pursue additional discussions with the United States in search of a way forward. Kim said the two sides are expected to hold a video conference soon following internal reviews. A senior government official said on Feb. 1 that even if the United States publishes a decision to reimpose tariffs in the Federal Register, the measure could still be withdrawn. “We need to respond in a way that leads to a reversal, including through the publication of a new notice,” the official said. Referring to Kim’s meetings in Washington, the official said U.S. authorities are demanding tangible results and emphasized the need for swift, proactive action while maintaining a calm and principled approach.


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