Acting Minister Choi Sang-mok: "Cannot Rule Out Possibility of Expanded U.S. Tariff Measures"

With President Donald Trump's tariff measures against Canada and Mexico postponed, Acting Minister Choi Sang-mok expressed that it is not a stage where we can be relieved.

On the 4th, Acting Minister Choi presided over an external economic issues meeting at the Government Complex Seoul and stated in his opening remarks that he was "very fortunate" regarding the Trump administration's deferral of tariffs on Canada and Mexico.

However, he pointed out that "if the U.S. tariff measures and the responses of various countries continue, the uncertainty in our exports and the overall economy could increase, and there is also the possibility that the U.S. tariff measures could expand to the EU, etc."

Acting Minister Choi said he plans to strengthen preparations amidst the uncertainty. He emphasized, "We plan to keep all possibilities open and closely monitor developments, major countries' response trends, etc., through consultation bodies such as external economic issues meetings and business meetings with companies, and examine the impact on our industry and economy from multiple angles."

He added, "Along with preparing emergency export measures in response to the progress of the situation, we will actively communicate with the new U.S. administration officials to ensure that our position is reflected as much as possible."