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Seoul Reassures U.S. Firms on Tariff Deal as Fast-Track Bill Advances in Parliament

Trade Minister Yeo Han-koo pressed for swift passage to head off potential tariff hikes.

Overview

  • At a closed-door AMCHAM luncheon in Seoul, Yeo pledged faithful implementation of the KoreaU.S. tariff agreement and regular progress updates to Washington.
  • The government has submitted a special bill and launched a bipartisan National Assembly committee with a 30-day mandate to pass it by March 9.
  • Yeo said nontariff issues, including digital regulations, should not block the agreement, and he pledged to address them in line with the joint fact sheet.
  • Coverage reported that President Donald Trump threatened to raise tariffs on Korean goods to 25% from 15% over delays in enabling legislation.
  • AMCHAM Chairman James Kim voiced full support for Seoul’s approach, noting progress on roughly 40% of business-raised issues with about 60% still unresolved.