South Korea’s Trade Minister Seeks Deal After Trump Announces 25% Tariff Rise
Updated (3 articles)
Trump Announces 25% Tariff Increase on Korean Goods President Donald Trump announced on Feb 4, 2026 that the United States will raise reciprocal tariffs and automobile duties on South Korean products to 25 percent, citing congressional delays in ratifying the October bilateral trade pact [1]. He had earlier, on Jan 29, 2026, threatened to restore the 25 percent tariff level on Korean autos because of perceived slow progress in Seoul’s legislative ratification [2]. The surprise announcement intensified trade‑policy negotiations between the two nations.
Yeo Han‑koo Engages U.S. Officials in Washington Trade Minister Yeo Han‑koo arrived in Washington on Jan 29, 2026, beginning a week‑long diplomatic tour aimed at averting the tariff escalation [2]. He met USTR head Jamison Greer, held discussions with roughly twenty members of Congress, and pursued intensive consultations on both tariff and non‑tariff issues [1]. Industry Minister Kim Jung‑kwan also traveled, landing on Jan 28, 2026, to meet Commerce Secretary Howard Lutnick and clarify South Korea’s legislative process [2].
Both Sides Emphasize Mutual Economic Harm Yeo warned that reinstating the 25 percent tariffs would gravely impact key industries and the broader economies of both South Korea and the United States [1]. The ministers stressed that misunderstandings over the National Assembly’s progress could exacerbate tensions and pledged to pass a special bill in Seoul to implement the existing deal [2]. They committed to continue intensive talks with U.S. officials, Congress, and industry groups to find an acceptable resolution [1].
Non‑Tariff Barriers and Legislative Delays Highlighted The USTR’s latest trade‑barrier report identified South Korean non‑tariff measures, including proposed online platform regulations, as points of contention in the bilateral relationship [1]. Yeo pledged to hold further consultations on these digital regulation issues before returning to Seoul on Thursday [1]. Kim’s meetings with the U.S. Commerce Department focused on maintaining U.S. investment and cooperation despite the tariff dispute [2].
Sources
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1.
Yonhap: South Korea’s Trade Minister Seeks Mutually Beneficial Deal as US Tariff Threat Looms: Details Yeo’s Washington talks, Trump’s surprise 25 % tariff announcement, and USTR non‑tariff concerns, emphasizing intensive consultations and a planned return to Seoul .
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2.
Yonhap: South Korean Trade and Industry Ministers Travel to Washington Amid U.S. Tariff Threats: Covers Yeo and Industry Minister Kim’s arrival dates, their meetings with USTR and Commerce Secretary, and both ministers’ efforts to explain legislative delays and avoid misunderstandings .
Timeline
Oct 2025 – South Korea and the United States finalize a bilateral trade agreement that cuts U.S. tariffs on Korean products from 25 % to 15 % and includes a US$350 billion investment pledge, establishing the framework later threatened by tariff hikes [1][3].
Early Jan 2026 – The U.S. administration sends a formal letter urging Seoul to enact the October deal swiftly, signalling mounting pressure before the tariff announcement [3].
Jan 27, 2026 – President Donald Trump posts that reciprocal tariffs and auto duties on South Korean goods will rise from 15 % to 25 %, citing Seoul’s slow legislative progress and triggering an immediate diplomatic response from Seoul [3].
Jan 27, 2026 – South Korea dispatches Industry Minister Kim Jung‑kwan and Trade Minister Yeo Han‑koo to Washington; Kim leaves Canada after a submarine‑bid mission while Yeo prepares to meet USTR Jamieson Greer to discuss the newly announced 25 % tariffs [3].
Jan 28, 2026 – Industry Minister Kim Jung‑kwan lands at Dulles International Airport and schedules a meeting with U.S. Commerce Secretary Howard Lutnick on Jan 29 to clarify South Korea’s legislative process and reaffirm commitment to U.S. investment [2].
Jan 29, 2026 – Trade Minister Yeo Han‑koo flies from Incheon to Washington, pledging “we will uphold the Korea‑US tariff pact” and vowing to find a mutually beneficial solution; he meets USTR Jamison Greer, about twenty members of Congress, and begins a week‑long intensive consultation tour [2][1].
Jan 29, 2026 – Both ministers stress that misunderstandings over the National Assembly’s progress must be avoided, emphasizing South Korea’s unchanged commitment to trade cooperation despite the 25 % tariff threat [2].
Jan 29, 2026 – Yeo warns “a tariff hike would hurt both economies” and notes that the USTR’s annual trade‑barrier report flags Korean non‑tariff measures, such as online platform regulation, as additional points of contention [1].
Early 2026 – South Korea plans to pass a special bill in the National Assembly to implement the October trade deal and unlock the US$350 billion investment pledge, a key condition for averting the threatened tariffs [1][2].
Feb 5, 2026 (planned) – Yeo Han‑koo is scheduled to return to Seoul after completing intensive talks with the USTR, Congress, and industry groups, aiming to secure an acceptable resolution before the 25 % tariffs take effect [1].