Acting President Han presides over an emergency economic security strategy task force (TF) meeting. On April 3rd local time, the United States announced reciprocal tariffs, prompting Acting President Han Duck-soo to hold an urgent economic security strategy TF meeting at the Government Complex in Seoul.
The meeting was attended by Choi Sang-mok, Deputy Prime Minister for Economic Affairs; An Duk-geun, Minister of Trade, Industry, and Energy; Chung In-kyo, Head of the Trade Negotiation Headquarters; Park Sung-taek, First Vice Minister of the Ministry of Industry; Kim Hong-kyun, First Vice Minister of Foreign Affairs; and Nam Hyung-gi, Second Vice Minister of the Government Policy Coordination Office.
Acting President Han stated, “As the global tariff war has become a pressing reality, the government must mobilize all available resources to overcome the trade crisis.”
He urged the Minister of Trade, Industry, and Energy to closely analyze the details and impacts of the reciprocal tariffs, and actively engage in negotiations with the United States to minimize damage.
Furthermore, he instructed the preparation of urgent support measures for industries and companies that would be affected by the U.S. government’s tariffs, such as the automotive sector.
Immediately following the TF meeting, the government will hold a “Macroeconomic and Financial Issues Meeting,” chaired by the Deputy Prime Minister for Economic Affairs, to assess the financial and foreign exchange market impacts of the U.S. tariff measures.
At 11:30 AM, a “Public-Private Joint Meeting on U.S. Tariff Measures,” chaired by the Minister of Trade, Industry, and Energy, will take place to discuss joint response strategies with the industry, including outreach to the U.S.
In the afternoon, a “3rd Economic Security Strategy TF” meeting, led by Acting President Han and involving key companies and the public and private sectors, will be held to discuss response strategies in depth.