DPK Says U.S. Tariffs Should Stay at 15%, No Overlap on Semiconductors and Autos

[Financial News] The Democratic Party of Korea (DPK) urged that follow-up measures to be announced after the United States' temporary global tariff measures expire on the 24th local time should not lead to additional tariffs on South Korea's key export items, including semiconductors.
At a policy coordination meeting on the 23rd, Han Jeoung-ae, DPK Policy Committee Chairperson, said, "The new tariff measures should maintain the 15% level set in the existing South Korea–United States trade agreement," adding, "Unreasonable tariffs should not be applied repeatedly to major export items such as automobiles, semiconductors and steel."
Han also expressed concern over the so-called forced-labor tariff that the U.S. administration is expected to announce as early as the 24th local time. The measure is based on Section 301 of the U.S. Trade Act, which allows the Office of the United States Trade Representative (USTR) to investigate and impose retaliatory tariffs on trade partners that fail to block imports of goods produced with forced labor. It is aimed at forced-labor issues in China's Xinjiang Uyghur region amid the U.S.-China rivalry.
Han said, "We should actively support the international community's goal of eradicating forced labor, but it is not appropriate to impose blanket tariffs on ordinary goods from allies under that pretext." She added, "The government should fully explain our companies' supply chain management practices and their level of protection for labor rights. If necessary, it should also block the entry of goods made with forced labor into the country to eliminate unnecessary trade risks."

[email protected] Song Ji-won Reporter