▲ 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)

(LEAD) finance ministry-US tariffs

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

(ATTN: ADDS industry ministry's statement in last 4 paras)

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.

The Ministry of Trade, Industry and Resources also issued a statement, saying it is closely monitoring the situation.

Industry Minister Kim Jung-kwan, who is currently in Canada, will visit Washington for talks on the matter, with a meeting with U.S. Commerce Secretary Howard Lutnick being arranged, the ministry said.

The ministry will also discuss a response to Trump's move in an emergency interagency meeting to be convened by the presidential chief of staff for policy later in the day, it added.

Cheong Wa Dae said it has not received any official notice or explanation from the U.S. over Trump's tariff hike announcement.

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