Han Byung-do: "No renewed U.S. tariff hikes if U.S. investment bill passes"

[Financial News] Han Byung-do, floor leader of the Democratic Party of Korea, predicted on the 12th that if the "Special Act on Korea–U.S. Strategic Investment Management" (commonly referred to as the Special Act on Investment in the United States) is passed, there will be no renewed tariff hikes by the Donald Trump administration.
Speaking at a policy coordination meeting at the National Assembly on the day the U.S. Investment Special Act is scheduled to be put to a plenary vote, Han said, "We expect that passage of the bill today will significantly ease tariff risks and trade uncertainty." He added, "According to the government, the response has been that there will be no renewed tariff hikes if the Special Act on Investment in the United States is passed."
Facing pressure from the Trump administration over possible renewed tariff hikes, the ruling and opposition parties joined forces to fast-track the U.S. Investment Special Act. Nevertheless, the U.S. federal government has included South Korea among the targets of an investigation under Section 301 of the Trade Act of 1974, meaning the risk of renewed or additional tariffs still remains.
Against this backdrop, Han relayed that when the Lee Jae-myung administration engaged with the U.S. federal government, it was told that renewed tariff hikes would not occur once investment in the United States gets fully underway. He stressed, "The Democratic Party will work with the government to make thorough preparations so that U.S. investment projects proceed without a hitch."
As a follow-up to the passage of the U.S. Investment Special Act, the Korea-U.S. Parliamentary Association plans to visit the United States on the 23rd to directly address tariff risks. The delegation is expected to explain the implementation of U.S. investment projects and to pledge legislative discussions aimed at resolving unfair practices by digital companies, including through the Online Platform Act, commonly referred to as the Online Platform Fairness Act.

uknow@fnnews.com Kim Yoon-ho Reporter