Cheong Wa Dae To Hold Policy Coordination Meeting With Ruling Party, Gov't Over US tariffs

SEOUL, Feb 22 (Bernama-Yonhap) -- South Korean senior presidential, government and ruling Democratic Party officials will meet Sunday to discuss policy coordination in response to the US Supreme Court's decision to strike down US President Donald Trump's global "reciprocal" tariffs, Yonhap News Agency reported.

The meeting, led by Kim Yong-beom, presidential chief of staff for policy, and National Security Adviser Wi Sung-lac, will take place after the top court ruled against the sweeping emergency tariffs on Friday, which has prompted Trump to announce a new global tariff.

Other senior officials scheduled to attend the meeting include Finance Minister Koo Yoon-cheol, Industry Minister Kim Jung-kwan, Trade Minister Yeo Han-koo and DP floor leader Han Byung-do.

The officials are expected to discuss response measures to the Trump administration's follow-up steps to the court ruling as well as the status of South Korean investment projects in the United States.

Hours after Friday's ruling, Trump signed a proclamation to impose a temporary 10 per cent global tariff under Section 122 of the 1974 Trade Act, which the White House said would take effect at 12.01 am on Tuesday (Washington time).

On Saturday, Trump announced that he would raise the new global tariff rate to 15 per cent in a Truth Social post.

The Trump administration had levied reciprocal tariffs of 15 per cent on South Korean goods, down from an earlier 25 per cent following a bilateral deal under which Seoul committed to investing US$350 billion in the US, among other pledges, in return for the tariff reduction.

-- BERNAMA-YONHAP