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Korea to continue consultations with U.S. to prevent tariff hike: Minister

Published: 05 Feb. 2026, 11:19

Trade Minister Yeo Han-koo speaks to reporters at Incheon International Airport on Feb. 5 after wrapping up his trip to Washington for tariff talks. [YONHAP]

Korea will continue to closely consult with the United States to reach a resolution before the U.S. administration formalizes a tariff hike on Korea as threatened by President Donald Trump, Trade Minister Yeo Han-koo said Thursday, returning from a weeklong trip to the United States.

Yeo's trip came after the U.S. president made a surprise announcement of a plan to raise "reciprocal" tariffs and auto duties on Korea back to 25 percent, citing a delay in Korea's legislative process supporting the implementation of the countries' bilateral trade deal that had lowered most U.S. tariffs on Korea to 15 percent.

Earlier reports said the U.S. administration plans to soon publish a Federal Register announcing the envisioned tariff hike.

"What is important is whether the U.S. will immediately raise tariffs upon issuing a Federal Register or whether there would be a grace period of about one to two months," Yeo told reporters at Incheon International Airport.

Yeo insisted such a publication was "unnecessary" since Seoul is continuing to take "good faith efforts" to implement the tariff agreement.

"Since we still have time for consultations, the government will continue to engage in close discussions with the U.S. and do our utmost to reach a conclusion that best serves our national interest," he added.

During his trip, Yeo met with the deputy U.S. Trade Representative (USTR) and some 20 U.S. lawmakers to reaffirm Seoul's commitment to legislating a special bill to implement the trade deal and address nontariff issues related to digital regulations and others, according to the Ministry of Trade, Industry and Resources.

Trade Minister Yeo Han-koo speaks to reporters at Incheon International Airport on Feb. 5 after wrapping up his trip to Washington for tariff talks. [NEWS1]

Yeo welcomed the rival parties' decision on Wednesday to establish a special committee to advance the U.S. investment bill within a month, saying it would help resolve the ongoing trade tensions with the United States.

"While it is difficult to say with certainty how the U.S. will accept this move, I believe the National Assembly's commitment to moving forward with the legislative process through the rival parties' agreement will definitely be helpful as Washington has cited the delay in the legislation of the U.S. investment bill as the biggest reason for its tariff hike plan," he said.

Regarding nontariff issues, including tensions over Seoul's probe into Coupang's massive data leak incident, Yeo said he cannot disclose the details of the trade talks, but that Seoul needs to "carefully" manage such issues as the bilateral trade deal also includes joint efforts to address nontariff trade barrier issues.

Washington has expressed concerns over Korea's ongoing investigation into Coupang, a U.S.-listed e-commerce firm, with some U.S. lawmakers calling the investigation "discrimination" against a U.S. firm, raising concerns the issue could negatively affect trade relations between the two countries.

Amid speculation the Coupang issue may be related to Trump's tariff hike threat, Seoul officials have said the two issues are not related.

Yonhap