Tensions Rise as U.S. Plans Tariff Hike on South Korean Goods

South Korea's Industry Minister, Kim Jung-kwan, will visit Washington to address U.S. plans to raise tariffs on South Korean goods. A previously agreed-upon tariff reduction is in jeopardy due to Seoul's delayed legislation. Discussions aim to ease tensions and finalize South Korea's $350 billion investment commitment in the U.S.

South Korea's Industry Minister, Kim Jung-kwan, is set to visit Washington this week to engage in crucial discussions on the U.S. plans to increase tariffs on South Korean imports. The move, announced by President Donald Trump, elevates tariffs from 15% to 25%, sparking significant concern in Seoul.

The tariff hike comes as a response to South Korea's delay in enacting necessary legislation tied to a trade deal promising $350 billion investment in the U.S. Kim will meet with U.S. Secretaries of Commerce and Energy, aiming to diffuse escalating tensions. South Korean officials are actively seeking solutions through various diplomatic channels.

Trump hinted at a potential compromise, stating they will resolve the issue with South Korea, though details remain unclear. South Korean lawmakers are hopeful the needed legislative bills will pass in an upcoming parliamentary session this February. Trade Minister Yeo Kan-koo will also join efforts to negotiate in Washington.

(With inputs from agencies.)