Korea Acting President on US Mutual Tariff Suspension: "Will Make Further Efforts to Advance Negotiations and Relieve Burden"

by Seo Sojeong

Published 10 Apr.2025 11:00(KST)

Updated 10 Apr.2025 13:02(KST)

"Urging Ministers to Make Special Efforts and Show Strong Will"

Yonhap News

Han Duck-soo, Acting President and Prime Minister, stated on the 10th regarding the U.S. mutual tariff suspension measure, "We must make further efforts to show progress in all negotiations over the next 90 days to be relieved from the burden of tariffs."

Acting President Han said at the National Policy Meeting with Relevant Ministers held at the Government Seoul Office Building that morning, "We received somewhat reassuring news this morning." U.S. President Trump announced that about 13 hours after the mutual tariffs took effect, he would suspend mutual tariffs for 90 days on trading partners other than China and apply a basic tariff of 10%.

Acting President Han emphasized, "As the Republic of Korea relies on trade for growth and development, we must make even greater efforts," and added, "I urge the ministers to make special efforts and show strong will for this."

He continued, "The basic reason the U.S. wants to impose a 25% tariff is because it judges that the competitive conditions among all products are not equal, and the difference is imposed as a tariff," adding, "This includes our country's tariff levels, various tax and levy levels, non-tariff barriers, and sanitary measures all at once."

Acting President Han said, "Especially if our regulations are eased, it will benefit not only foreign companies but also Korean companies," and requested, "While carefully reviewing domestic impacts, I earnestly ask the ministers of economic and non-economic departments, especially those responsible for various regulations, to make special efforts, recognizing that our country relies on trade to create jobs, achieve growth, and ensure long-term national development."

He also added, "If individual ministries cannot resolve issues, the Acting Prime Minister will directly convene meetings to brainstorm and seek solutions together."