South Korean Parliament Sets Pre‑Lunar New Year Interpellation as U.S. Tariff Threat Intensifies
Updated (95 articles)
Tariff threat escalates over legislative delay President Donald Trump warned that the United States could raise reciprocal tariffs on South Korean autos, lumber and pharmaceuticals from the current 15 % to 25 % because Seoul has not yet passed the special investment bill required by the October trade pact [2][4]. U.S. agencies are conducting inter‑agency consultations to decide whether to formalize the increase in the Federal Register, a step that would turn the threat into enforceable policy [2]. The Trump administration’s messaging, delivered via a sudden social‑media post, has been described by South Korean officials as a new, abrupt communication style [20].
South Korea’s $350 billion investment pledge underpins deal The bilateral agreement obligates Seoul to invest a total of US$350 billion in the United States, with annual caps ranging from $2 billion to $20 billion depending on the source, in exchange for the United States lowering tariffs to 15 % [1][5][11]. The ruling Democratic Party submitted a special bill in November 2025 to implement the pledge, but the National Assembly has not yet approved it, prompting pressure from both Washington and domestic opposition parties [11][12][13]. Finance Minister Koo Yun‑cheol briefed lawmakers on the tariff talks and urged swift passage of the investment legislation [1].
High‑level diplomatic outreach targets tariff resolution Trade Minister Yeo Han‑koo met USTR Jamison Greer and about 20 members of Congress in Washington, emphasizing Seoul’s intent to honor the pact and seeking a mutually beneficial solution [3][18]. Foreign Minister Cho Hyun held talks with Secretary of State Marco Rubio on nuclear, submarine and shipbuilding cooperation, and explained South Korea’s parliamentary process to U.S. officials [4][6][7][8]. Prime Minister Kim Min‑seok credited a newly‑established hotline with Vice President JD Vance for improving communication and advancing tariff‑related discussions [9][10]. The Finance, Economy, Planning and Budget Committee scheduled an interpellation session before the Feb. 14 Lunar New Year holiday to question the Finance Minister on these matters [1].
Broader strategic cooperation continues amid tensions Both governments reaffirmed commitment to civil nuclear energy, nuclear‑powered submarines, shipbuilding and the inaugural Critical Minerals Ministerial, underscoring a shared interest in diversifying supply chains for rare‑earths and other high‑tech minerals [4][5][6][7][8]. The United States also voiced support for South Korea’s civilian uranium enrichment and spent‑fuel reprocessing program, as outlined in a joint fact sheet released in November [4][5]. These strategic dialogues are intended to separate broader security cooperation from the immediate tariff dispute.
Discrepancies in progress reports highlight ongoing uncertainty Some reports state that the first‑day talks between Industry Minister Kim Jung‑kwan and Commerce Secretary Howard Lutnick ended without any agreement and that further negotiations would continue via video link [13][14][15][16][17][19]. Other articles emphasize tangible progress, citing the hotline’s role in clarifying intentions and the scheduling of the interpellation session as signs of forward movement [9][10][1]. Additionally, while several sources note that most U.S. officials were unaware of Trump’s threat until its announcement, a few point out that certain officials, such as Commerce Secretary Lutnick, were already briefed [9][10][19].
Sources
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1.
Yonhap: South Korean Parliament Schedules Interpellation on U.S. Tariff Talks – Details the Finance Committee’s pre‑Lunar New Year interpellation plan, Finance Minister briefing, and party positions on the $350 billion investment bill .
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2.
Yonhap: U.S. Trade Talks Focus on Possible South Korea Tariff Formalization – Reports U.S. inter‑agency review of a formal tariff filing, Yeo’s Washington meetings, and the $350 billion pledge .
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3.
Yonhap: South Korea’s Trade Minister Seeks Mutually Beneficial Deal as US Tariff Threat Looms – Highlights Yeo’s congressional outreach, threat of 25 % tariffs, and non‑tariff issues like digital regulation .
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4.
Yonhap: U.S. and South Korea reaffirm nuclear, shipbuilding cooperation amid tariff threat – Covers Cho and Rubio’s agreement on nuclear and shipbuilding cooperation, and the investment‑tariff link .
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5.
Yonhap: US‑ROK diplomats reaffirm nuclear, shipbuilding ties amid tariff threat – Mirrors article 4 with emphasis on trilateral denuclearization and the Critical Minerals Ministerial .
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6.
Yonhap: South Korean Foreign Minister Meets U.S. Secretary of State Amid Rising Tariff Threats – Describes Cho’s Feb 3 meeting with Rubio, the eight‑day deadline, and clarification of the special bill .
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7.
Yonhap: South Korean FM Cho Hyun Meets US Secretary Rubio Amid Threatened Tariffs – Similar to article 6, focusing on Cho’s Washington visit and the $350 billion investment context .
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8.
Yonhap: South Korean Foreign Minister to Detail Parliamentary Process to U.S. Amid Trade Tension – Reports Cho’s pre‑trip briefing on legislative steps and reassurance on the investment pledge .
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9.
Yonhap: South Korea, U.S. Make Headway on Tariff Dispute After Hotline Established – Prime Minister Kim credits the new hotline with Vance for progress and refutes claims linking the tariff threat to a Coupang data breach .
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10.
Yonhap: South Korea‑U.S. tariff talks gain momentum after new hotline – Reinforces the hotline’s role, describes Trump’s surprise threat, and notes rapid dispatch of Korean trade officials .
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11.
Yonhap: DP Aims to Pass U.S. Investment Bill by Late February, Early March – Announces the Democratic Party’s timeline for the special bill, mentions Trump’s threat, and cites industry minister’s Washington meeting .
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12.
Yonhap: South Korean Industry Minister Claims Trade Misunderstandings Resolved After US Talks – Claims misunderstandings cleared after Kim’s talks with Lutnick, reiterates the $350 billion pledge, and notes the bill’s pending status .
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13.
Yonhap: South Korea and U.S. Commerce Secretary End Tariff Talks Without Agreement – States that Kim’s talks with Lutnick concluded without a deal, but dialogue will continue .
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14.
Yonhap: South Korean Industry Minister Holds Second Day of Talks with U.S. Commerce Secretary Over Trump’s Tariff Threat – Details the second‑day meeting, continued threat, and reaffirmation of the investment commitment .
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15.
Yonhap: South Korea Tackles Trade Talks, FX Scrutiny, Space Launch, and Domestic Probes – Reports first‑day tariff talks ending without agreement, FX monitoring, and unrelated domestic news .
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16.
Yonhap: South Korean Industry Minister and U.S. Commerce Secretary Conclude First Day of Tariff Talks Without Deal – Summarizes the first‑day meeting outcome and the $350 billion pledge .
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17.
Yonhap: South Korean Industry Minister Meets U.S. Commerce Secretary Amid Trump Tariff Threat – Highlights Kim’s arrival, threat details, and the investment‑tariff linkage .
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18.
Yonhap: South Korean Trade and Industry Ministers Travel to Washington Amid U.S. Tariff Threats – Covers Yeo’s and Kim’s trips, their agendas, and the broader cooperation topics .
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19.
Yonhap: South Korean Industry Minister to Meet U.S. Commerce Secretary Amid Trump Tariff Threat – Announces Kim’s upcoming meeting, the pending bill, and procedural steps toward a possible tariff filing .
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20.
Yonhap: Trump’s tariff warning seen as implementation step, not deal collapse – Frames the threat as a negotiation over implementation, notes won depreciation concerns, and urges CPTPP accession .
Timeline
July 30, 2025 – The United States and South Korea sign a trade pact that caps reciprocal tariffs at 15 % on autos, lumber, pharmaceuticals and other goods, ties the rate to a US$350 billion investment pledge, and secures U.S. approval for Korean nuclear‑powered submarines and uranium enrichment support[17].
Oct 2025 – Presidents Lee Jae‑Myung and Donald Trump finalize the strategic trade and investment deal at a Gyeongju summit, formally lowering U.S. tariffs on Korean autos, aircraft parts and lumber to 15 % and linking the cuts to Seoul’s US$350 billion investment commitment[30].
Nov 26, 2025 – South Korea’s National Assembly submits a special bill that outlines procedures for the US$350 billion investment package, enabling the retroactive application of the 15 % auto tariff from that date[30].
Dec 1, 2025 – U.S. Commerce Secretary Howard Lutnick posts on X that the United States will lower the tariff on Korean automobiles to 15 % retroactive to Nov 1, saying the change “strengthens the U.S.–Korea economic partnership” and aligns with the investment pledge[30].
Dec 3, 2025 – The Office of the U.S. Trade Representative and the Department of Commerce publish a Federal Register notice implementing the 15 % duty on Korean autos, aircraft components and lumber, confirming the reciprocal rate and marking the first official rollout of the Oct‑2025 agreement[29].
Dec 3, 2025 – Industry Minister Kim Jung‑kwan publicly declares the tariff reductions and promises “customs‑clearance support and tariff‑voucher programs” to help exporters adjust to the new 15 % rates[27].
Jan 14, 2026 – President Trump issues a proclamation imposing a 25 % tariff on Nvidia’s H200 and AMD’s MI325X advanced computing chips, citing national‑security concerns under Section 232 and warning that “broader tariffs on semiconductors” may follow[4].
Jan 15, 2026 – The U.S. Commerce Department cuts tariffs on Taiwanese semiconductor and technology goods to 15 % after Taiwan pledges at least US$250 billion in direct investments and US$250 billion in financing, with Secretary Lutnick stating the deal “helps the United States become self‑sufficient” in chip production[2].
Jan 16, 2026 – A senior U.S. official says Washington will negotiate “separate semiconductor tariff deals” with individual countries, signaling a shift from a universal policy after the Taiwan agreement[24].
Jan 17, 2026 – The administration announces a 25 % tariff on certain AI semiconductors and hints at additional measures; South Korea’s top trade envoy warns the impact on domestic chipmakers is “limited” but cautions that a second‑stage tariff could appear[23].
Jan 18, 2026 – Commerce Secretary Lutnick tells industry leaders at Micron’s Syracuse plant that firms face “either a 100 % tariff or the requirement to build in America,” intensifying pressure on Korean memory‑chip exporters such as Samsung and SK hynix[20].
Jan 19, 2026 – U.S. officials reiterate the “pay 100 % tariff or build in the United States” ultimatum for memory‑chip imports, explicitly targeting Korean manufacturers and linking the threat to the recent Taiwan investment deal[20].
Jan 21, 2026 – Prime Minister Kim Min‑seok travels to Washington for his first overseas trip as premier, meeting senior U.S. officials to discuss “tariff and chip tensions” and to reinforce the 15 % reciprocal tariff framework tied to the US$350 billion investment pledge[19].
Jan 23, 2026 – In a White House meeting, Prime Minister Kim proposes that the United States send a special envoy to Pyongyang, arguing “only President Trump has the will and capability” to advance U.S.–North Korea relations[18].
Jan 26, 2026 – President Trump posts on Truth Social that the United States will raise reciprocal tariffs and auto duties on South Korean goods from 15 % to 25 % because Seoul’s legislature has not ratified the October trade deal, declaring “Seoul has not lived up to the deal”[1][17].
Jan 27, 2026 – South Korea’s presidential office holds an interagency meeting chaired by National Security Adviser Wi Sung‑lac and policy chief Kim Yong‑beom, confirming the tariff hike “will only take effect after a Federal Register notice” and pledging a calm diplomatic response[13].
Jan 27, 2026 – A White House official states that South Korea “has made no progress” on its trade‑deal obligations, underscoring Washington’s frustration amid the tariff dispute[9].
Jan 27, 2026 – The ruling Democratic Party announces it will push deliberation on the special investment bill in February, aiming to pass the legislation before the end of the month to satisfy the U.S. demand for the US$350 billion investment[10].
Jan 27, 2026 – Industry Minister Kim Jung‑kwan cuts short a Canadian submarine‑bid mission and flies to Washington to meet Commerce Secretary Howard Lutnick, saying the talks “clear unnecessary misunderstandings” about the tariff threat[11].
Jan 28, 2026 – Kim Jung‑kwan lands at Dulles International Airport and meets Lutnick, while Trade Minister Yeo Han‑koo prepares to meet USTR Jamieson Greer; both aim to address the newly announced 25 % tariffs and reaffirm Seoul’s commitment to the investment pact[8].
Jan 30, 2026 – The first day of U.S.–Korea tariff talks ends without a deal; Kim Jung‑kwan and Lutnick agree to reconvene the next day, and the U.S. Treasury keeps South Korea on its foreign‑exchange monitoring list[7].
Feb 1, 2026 – The Democratic Party schedules an extraordinary National Assembly session for late February to vote on the special investment bill, noting the draft creates a “strategic investment fund” for the US$350 billion package and warning that “if Seoul delays, Trump could raise tariffs to 25 %”[6].
Feb 2026 (expected late Feb – early Mar) – South Korea plans to pass the special investment bill during an extraordinary session, targeting a vote “between late February and early March” to fulfill the US$350 billion pledge and avert further U.S. tariff escalations[6].
Apr 2026 (speculated) – Analysts note that President Trump may seek a face‑to‑face meeting with North Korean leader Kim Jong‑un during his planned April visit to China, a development that could reshape U.S.–Korea–North Korea diplomatic dynamics[18].
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