Search results for Section 232
Industry
South Korea says U.S. sets 12.5% \'forced labor\' tariff; next is overproduction
The United States has finalised a 12.5% tariff on South Korean products over forced labor, leaving 2.5 percentage points before a 15% cap set in last year’s trade agreement. The U.S. Trade Representative said the measure, imposed under Section 301, applies across 60 economies and takes effect on July 24. South Korea is in the first group with Japan and Switzerland. Seoul says the U.S. reaffirmed the 15% combined cap as a separate overproduction probe continues.
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.
