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| ▲ Lawmakers of the Democratic Party hold a consultation session with Lee Hyung-il, first vice minister of economy and finance, at the National Assembly in Seoul on Jan. 27, 2026. (Pool photo) (Yonhap) |
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| ▲ Rep. Song Eon-seog, floor leader of the main opposition People Power Party, speaks during a discussion session held at the National Assembly in Seoul on Jan. 27, 2026. (Yonhap) |
parties-US tariffs
DP eyes deliberation of U.S. trade investment bill next month after Trump's tariff hike threat
By Kim Eun-jung
SEOUL, Jan. 27 (Yonhap) -- The ruling Democratic Party (DP) said Tuesday it will seek to launch deliberation on a special investment bill related to South Korea's trade deal with the United States next month as U.S. President Donald Trump has threatened to raise tariffs on the Asian ally.
Trump made the surprise announcement that he will increase tariffs on reciprocal tariffs and auto duties on South Korea from 15 percent to 25 percent as the National Assembly has not been "living up to" the trade deal.
His remarks were widely seen as referring to a special investment bill submitted by the DP in November that remains pending in parliament.
In response, the ruling party said it will step up consultations with the government and seek cooperation from the main opposition People Power Party (PPP) to swiftly review and pass the bill.
"The government has requested that the bill be reviewed and passed by the end of February," Rep. Jung Tae-ho of the DP told reporters after consultations with government officials. "The review procedures will take place in February."
The legislation is designed to support South Korea's US$350 billion investment package pledged under the trade deal finalized in October. The measure is currently pending at a parliamentary committee and must clear committee deliberations before being put to a plenary vote.
DP floor spokesperson Kim Hyun-jung said the party aims to pass the bill promptly in coordination with the opposition, noting that it requires a thorough review of issues, such as financing and the commercial viability of the proposed projects.
"There are many factors to review, which is why cooperation between the ruling and opposition parties is essential," Kim said.
The PPP, however, criticized the government and the ruling party for prioritizing an investment bill instead of seeking parliamentary ratification of what it views as a major trade agreement.
"All responsibility lies with the president and the government," PPP floor leader Song Eon-seog said at a party meeting.
The opposition has argued the trade agreement requires the National Assembly's ratification, while the DP counters that formal ratification could undermine South Korea's interests and that a special investment bill is a more appropriate approach.
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