US tariffs created ‘serious’ situation for South Korea: Acting President

ISTANBUL

South Korea’s Acting President Lee Ju-ho said Wednesday that the tariffs imposed by the US created a “serious” situation for his county, underscoring that Seoul will proceed with negotiations with Washington “in an orderly manner,” the Korea Herald reported.

“The government will work closely across ministries under the responsibility of the minister in charge of trade policy to proceed with discussions with the US in an orderly manner,” he said at a high-level economic security strategy meeting in Seoul that was convened to assess tariff negotiations.

“Recent tariff actions driven by changes in US trade policy have created a serious and ongoing situation,” he added, noting that talks will proceed responsibly, while putting national interest first.

The acting president reaffirmed the government's commitment to reducing public anxiety and protecting South Korean industries from a volatile trade environment, vowing to safeguard economic interests.

Trade talks between Seoul and Washington are ongoing after the Trump administration imposed a 25% tariff on South Korea, which was temporarily reduced to 10% for 90 days to July 8.