▲ In this file photo, lawmakers of the ruling Democratic Party submit a special bill at the National Assembly in western Seoul on Nov. 26, 2025, to facilitate South Korea's investment in the United States under a bilateral tariff deal. (Pool photo) (Yonhap)

finance ministry-US tariffs

Seoul to consult with U.S. on investment bill following tariff hike announcement: ministry

SEOUL, Jan. 27 (Yonhap) -- The government will closely communicate with the United States over the ongoing legislative progress on a special bill to support Seoul's investment plans in the U.S., the finance ministry said Tuesday, shortly after U.S. President Donald Trump made a surprise announcement to raise reciprocal tariffs and auto duties for Korea.

"We are currently working to gauge the intentions of the U.S. side," the Ministry of Economy and Finance said in a message to reporters. "Going forward, we will engage with the U.S. government to explain developments in discussions over the legislation at the National Assembly."

The message came shortly after Trump said in a social media post that he is raising "reciprocal" tariffs and auto tariffs on South Korea to 25 percent from 15 percent, claiming that the Korean legislature has not yet completed the domestic process to implement the countries' bilateral trade deal.

In November, Seoul's ruling Democratic Party submitted a special bill to support the country's US$350 billion investment pledge to the U.S., which was part of the tariff deal between the two countries.

The ministry said it was also planning to ask for the assembly's cooperation for the passage of the bill in a meeting between the finance minister and the chair of the parliamentary finance committee, set to take place later in the day.

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