U.S. Suggests Possible Additional Tariffs Based on Super Section 301
We summarize the possibility of additional U.S. tariffs, the issues surrounding the application of Section 301, and the South Korean government's response Also check the outlook for the results of investment negotiations with the U.S. to prepare for uncertainty
The Blue House said on the 22nd that, regarding the possibility of additional U.S. tariffs, Section 301 of the Trade Act or other provisions could apply. The United States has been reviewing each country’s trade practices ahead of the expiration of its existing global tariffs on the 25th.
National Security Adviser Wi Sunglac explained at a Blue House briefing that Section 301 can address issues such as forced labor or excess production, but that there is room for interpretation. He cited a case in which the United States imposed high tariffs on Canada based on other legal provisions, and said that the possibility of various forms of tariff measures cannot be ruled out.
The government is taking 대응 measures by consulting with the U.S. side and providing relevant materials and explanations. Policy Chief Kim Yongbeom said that, regarding U.S. investment issues linked to tariff negotiations, he expects results within August to September.