Ruling party, government and presidential office hold meeting to respond to ‘illegal U.S. reciprocal tariffs’… “To pass the Special Act on Investment in the U.S. by March 9”

The Democratic Party said on the 22nd that it “will do its utmost to ensure the Special Act on Investment in the U.S. is processed by the 9th of next month, as agreed by the ruling and opposition parties.”

According to News1, the ruling party, the government and the presidential office reached this consensus at a meeting to review pending trade issues related to tariffs, held at 8 p.m. that afternoon at the Financial Training Institute in Jongno-gu, Seoul, Democratic Party floor spokesperson Moon Geum-ju said.

Regarding the meeting, Moon said, “We reviewed the impact of the U.S. Supreme Court’s ruling on reciprocal tariffs and our response measures,” adding, “The ruling party, the government and the presidential office share the view that swift legislation of the Special Act on Investment in the U.S. is in the best interest of our national interest.”

The meeting was chaired by Policy Chief Kim Yong-beom and National Security Office Director Wi Sung-lac. From the Democratic Party, Floor Leader Han Byung-do, Policy Committee Chair Han Jeong-ae, and Rep. Jung Tae-ho, the ruling party’s secretary on the Special Committee for the Special Act on Investment in the U.S., attended. From the government, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, Minister of Trade, Industry and Energy Kim Jung-kwan, Trade Minister Yeo Han-gu, and First Vice Minister of Foreign Affairs Park Yoon-joo, among others, were present.

Earlier, the U.S. Supreme Court ruled that President Trump’s reciprocal tariff measures targeting countries, based on the International Emergency Economic Powers Act (IEEPA), were unlawful. It upheld the first- and second-instance rulings that the IEEPA does not grant the president the authority to impose tariffs at will.

Han Kyung-woo, Hankyung.com reporter case@hankyung.com