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Korea submits statement to U.S. opposing pharmaceutical tariffs

Published: 06 May. 2025, 15:22 Updated: 06 May. 2025, 15:24

U.S. President Donald Trump shows a signed document as he signs executive orders and proclamations in the Oval Office at the White House in Washington, D.C. on May 5, 2025. [REUTERS/YONHAP]

Seoul has submitted a formal opinion to Washington opposing potential tariffs on pharmaceutical imports, arguing that Korean-made drugs bolster supply chain stability and patient access rather than posing a national security threat to the United States.

The U.S. Department of Commerce launched a national security investigation on April 1 under Section 232 of the Trade Expansion Act, targeting imports of pharmaceuticals and active pharmaceutical ingredients. As part of the process, the department said it would collect public comments from April 16 to May 7. The move aligns with U.S. President Donald Trump’s push for imposing tariffs on foreign imports in the name of national security.

In a statement submitted on Sunday, the Korean government emphasized that Korean pharmaceutical imports contribute positively to the U.S. health care system and that additional tariffs are unwarranted. The statement argued that such imports improve supply chain resilience and help lower costs for patients.

The government highlighted that pharmaceutical trade between the two countries symbolizes broader economic and public health cooperation.

It also pointed out that Korean contract development and manufacturing organization (CDMO) companies support U.S. drugmakers by enabling production diversification, which can mitigate supply risks. This collaboration, the government added, played a key role during the Covid-19 pandemic and helped protect national security interests.

Calling for future-oriented cooperation, Seoul proposed that both countries continue to work together based on mutual trust to maximize joint benefits.

Meanwhile, the Ministry of Health and Welfare and the Korea Health Industry Development Institute (KHIDI) launched a support center on April 25 to help domestic biotech and health firms mitigate potential damage from any new U.S. tariffs.

Exporters in the sector can report challenges and request assistance through email at [email protected], phone +82 043-713-8551, or the KHIDI website at www.khidi.or.kr.

“We will step up our response across the government to minimize the impact on the biohealth sector, including pharmaceuticals, medical devices and cosmetics,” Health Minister Cho Kyoo-hong said. “We will actively participate in trade negotiations and closely monitor tariff developments while reviewing additional measures to support our industry.”

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY JUNG JONG-HOON [[email protected]]