Tariff talks end without progress; ruling and opposition must act to shield firms

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Tariff talks end without progress; ruling and opposition must act to shield firms

Published: 02 Feb. 2026, 00:00

Audio report: written by reporters, read by AI

Kim Jung-kwan, minister of trade, industry and energy, answers reporters’ questions after returning via Incheon International Airport on the afternoon of Jan. 31 from talks with U.S. officials on bilateral trade issues, including Washington’s plan to raise reciprocal tariffs. [NEWS1]

Talks between Korea and the United States have run into difficulty after U.S. President Donald Trump warned that Washington could reimpose reciprocal tariffs of 25 percent on Korean goods, citing delays in the National Assembly’s handling of a special law on U.S. investment. Kim Jung-kwan, Minister of Trade, Industry and Resources, traveled to Washington and held two rounds of discussions with U.S. Commerce Secretary Howard Lutnick, but returned home earlier this week without a resolution.

Comments made by Kim after his return suggest Washington believes Korea is intentionally dragging its feet on the legislation. Although Seoul says it has explained the Assembly’s procedural realities to dispel misunderstandings, signs that the United States is preparing a notice for its official gazette raise the risk that the 25 percent tariff could be reinstated in a worst-case scenario. The urgency was underscored when Han Jeoung-ae, policy chief of the Democratic Party, held a holiday press briefing outlining plans to process the bill in late February or early March. The move has fueled speculation that Washington may be holding firm to the threat of reimposing the tariff until the bill is passed.

An America First approach from the Donald Trump administration that shows little regard for allies has become constant. The most realistic goal now is to end the standoff without the 25 percent tariff being reinstated, given the heavy blow such a move would deal to Korean industry. The ruling and opposition parties should consult from the standpoint of national interest rather than partisan rivalry and move swiftly to pass the necessary legislation. The government must also consider the likelihood that Washington will repeatedly use the tariff threat in future talks over issues that have been postponed, including the selection of U.S. investment destinations and decisions on investment scale.

Separately, Seoul should closely track, based on reciprocity, follow-up steps by Washington on commitments made in last year’s Korea-U.S. trade and security fact sheet. Those include cooperation on building nuclear-powered submarines, allowing the reprocessing of spent nuclear fuel rods and permitting uranium enrichment. Foreign Minister Cho Hyun recently mentioned the possibility of a U.S. negotiating team visiting Korea in February, and a tangible conclusion should be reached as soon as possible.

Since the start of the year, Korea-U.S. relations have resembled a walk on thin ice across a range of trade and security issues. Open opposition by the U.S.-led United Nations Command to a bill promoted by the Unification Ministry on the peaceful use of the demilitarized zone does little to help manage bilateral ties. This is an issue that calls for coordination at the presidential level.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.