Opposition's Kim Geon: "Premature for Self-Congratulation over Korea-U.S. Tariff Deal"

Kim Geon, the secretary of the People Power Party on the National Assembly's Foreign Affairs and Unification Committee, commented on the Korea-U.S. tariff negotiations being concluded on the 31st, stating, "It is fortunate that the negotiations have concluded, but it is too early for self-congratulation."

He expressed this on his SNS today, saying, "There were regrettable aspects throughout the overall negotiation process." He further remarked, "While the deal has been settled on the broader framework, the details are even more important," adding, "We must not let our guard down and wage an all-out effort for follow-up negotiations, investment implementation, and measures to protect stakeholders."

The Presidential Office announced this morning that the Korea-U.S. tariff negotiations have been concluded and stated that the United States has agreed to lower the mutual tariffs imposed on South Korea to 15%. It was also explained that tariffs on automobiles were agreed to be set at 15%, and there would be no additional opening of the rice and beef markets. In addition, South Korea decided to invest a $350 billion fund in the United States.

These Korea-U.S. tariff negotiation results were disclosed a day before the mutual tariff suspension deadline proposed by U.S. President Donald Trump. Regarding this, Kim pointed out that Japan and the European Union (EU) had reached agreements with the U.S. first, saying, "If we follow after the conclusion of the Japan and EU deals, we have no choice but to rely on established standards," and stressed, "We ended up in a disadvantaged position for negotiations."

Kim also criticized that, as a result, South Korea, which had enjoyed 0% automobile tariffs under the existing Korea-U.S. Free Trade Agreement (FTA), would now face the same 15% tariff as Japan and the EU, which previously bore a 2.5% tariff, stating, "In conclusion, we go from paying 2.5% less than Japan or the EU to paying the same."

Addressing the ruling Democratic Party of Korea, he said, "Even after the suspension of the former president, tariff negotiations should have continued under the acting government, but the Democratic Party pressured for impeachment and for us to step away from negotiations," adding, "Such events must never be repeated." His remark was interpreted as a reference to impeachment motions in the National Assembly against then-acting President Han Duck-soo (the former Prime Minister) and Choi Sang-mok (the former Deputy Prime Minister and Minister of Economy and Finance) during the impeachment phase of former President Yoon Suk-yeol, which was led by the Democratic Party of Korea.

Reporter Jung Sang-won top1@hankyung.com