South Korean Acting President: South Korea will not retaliate against U.S. tariffs

ChainCatcher news, South Korean Acting President Han Duck-soo recently stated in an interview with the Financial Times that South Korea will not "retaliate" against the U.S. tariff policy, citing South Korea's historical responsibility to Washington.

Han emphasized that the United States provided aid, technology transfer, investment, and security guarantees to South Korea after the Korean War, enabling the realization of South Korea's industrial strength, financial development, and cultural growth.

In response to the Trump administration's announcement this month of a 25% "reciprocal" tariff on South Korea, Han stated that South Korea will seek "more mutually beneficial solutions" rather than viewing U.S. actions as targets for retaliation.

To alleviate trade friction, Han proposed that South Korea is willing to discuss measures to reduce its trade surplus with the U.S., including purchasing U.S. liquefied natural gas and commercial aircraft, as well as strengthening cooperation in naval vessel construction. He also mentioned that Seoul is willing to discuss issues related to South Korea's non-tariff trade barriers.

It is worth noting that South Korea's trade surplus with the U.S. is expected to reach a record $55 billion in 2024, with the U.S. having replaced China as South Korea's largest export destination. Leading South Korean conglomerates are investing billions of dollars to build advanced chip, electric vehicle battery, and solar panel manufacturing plants in the U.S.

U.S.-South Korea trade negotiations are expected to begin next week, and Trump has made it clear that he will link trade and security issues, including "payment for the military protection the U.S. provides to South Korea." Han stated that there is currently no "clear framework" for discussing security issues, but he is willing to restart negotiations on cost-sharing agreements with the U.S. as circumstances allow.