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| ▲ The presidential office Cheong Wa Dae in Seoul. (Yonhap) |
S Korea-tariff ruling
S. Korea to mull response in line with nat'l interests following U.S. Supreme Court ruling on reciprocal tariffs
SEOUL, Feb. 21 (Yonhap) -- South Korea will consider its response in a way that "best serves national interests," its presidential office Cheong Wa Dae said Saturday, after the U.S. Supreme Court struck down the Trump administration's sweeping global tariffs.
The high court upheld a lower court's ruling against U.S. President Donald Trump's use of the 1977 International Emergency Economic Powers Act (IEEPA) to justify duties, including "reciprocal" tariffs on South Korea and other countries, fueling expectations that Washington would have to initiate a complicated tariff refund process.
"The (Korean) government will examine the contents of the U.S. Supreme Court ruling and the U.S. government's position in a comprehensive manner, and consider (how to respond) in a direction that best serves the national interest," the presidential office said.
A Cheong Wa Dae official also said that relevant government ministries might have to share information and discuss response measures -- remarks suggesting that an interagency meeting might convene.
The Trump administration is expected to seek workarounds or other legal means at its disposal to maintain the levies.
It has levied reciprocal tariffs of 15 percent on South Korean products, down from 25 percent following a bilateral deal under which Seoul has committed to investing US$350 billion in the United States, among other pledges, in return for the tariff reduction.
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