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Industry

Trump launches Section 301 probe into 16 economies, cites evidence of overcapacity in South Korea

The Trump administration has opened a Trade Act Section 301 investigation into 16 economies including South Korea, citing unfair trade practices linked to overcapacity and goods made with forced labor. USTR said targeted economies sustained U.S. trade surpluses through intentional overproduction. It cited South Korea’s trade swing from a $10 billion deficit in 2023 to a $52 billion surplus in 2024. The probe will take comments, hold a hearing and then decide possible measures.

Finance

South Korean stocks shaken by U.S. Supreme Court ruling on reciprocal tariffs

South Korean shares fluctuated after the U.S. Supreme Court ruled the Trump administration’s reciprocal tariffs illegal, triggering a reassessment of trade risks. The KOSPI finished up 0.65 percent at 5,846.09 after briefly topping 5,900. The court voided a 15 percent reciprocal tariff, but Washington moved to impose a universal tariff. Analysts said downside risks eased for some sectors, while tariffs on autos and steel remain.

Industry

MOTIE holds emergency meeting on U.S. tariff ruling, seeks close talks to keep friendly consultations

South Korea’s Ministry of Trade, Industry and Energy held an emergency public-private meeting on Feb. 23 to discuss responses to changes in U.S. tariff policy. The meeting reviewed the impact on industries and exports after a U.S. federal Supreme Court ruling invalidating the International Emergency Economic Powers Act and the U.S. administration’s announcement of additional tariff measures. Participants agreed to coordinate closely as further U.S. steps could have complex effects.