Korean Media: US Treasury Secretary: No Trade Agreement Before South Korean Parliament Approval

¬ "Tariffs 25% Before Approval" Pressure to Pass the Special Act on Investment in the US

On the 28th, US Treasury Secretary Scott Bensont appeared on CNBC and said, "There is no trade agreement with South Korea before the approval of the South Korean parliament (National Assembly)." In November 2025, South Korea and the United States released a 'Factsheet' (a joint statement), but three months later, the South Korean National Assembly has still not passed the Special Act on Investment in the US. The US expressed dissatisfaction with this. On the 26th, President Donald Trump announced that the tariffs on South Korean cars would be increased from 15% to 25%, an increase of 10 percentage points, but the next day he stated, "We will find solutions together with South Korea."

That day, the host asked Trump about the meaning of the tariff increase announced two days earlier. Bensont replied, "To get South Korea to sign the deal," "If the National Assembly does not approve it, there is no trade deal." The Special Act on Investment in the US is a prerequisite for the South Korean government's commitment to invest 3.5 billion US dollars (about 500 trillion won) in the US in exchange for the US reducing equivalent tariffs. Bensont said, "Before they approve, they will be subject to a 25% tariff," "I think this will help move things forward." This is the first time that Trump has overturned a commitment made to South Korea based on the progress of the trade agreement. Public opinion has various interpretations. Some Republican members of the House Judiciary Committee have suggested that the reason is that the Yoon administration has been targeting American technology company Coupang as an improper target.

In this situation, Trump hinted that the tariff increase could be delayed or revoked through negotiations. South Korea and the US are expected to negotiate this week. South Korea's Minister of Industry, Kim Jung-wan, and the head of the Office of the Chief Negotiator for Trade, Yeo Han-wook, will visit Washington D.C. separately to try to negotiate with US Commerce Secretary Howard Lutnick and USTR Director Jamie S. Grier, introducing the schedule for handling the special act and the implementation plan for investment in the US. On the 27th, Grier appeared on Fox Business Network and said, "We don't have a special grudge against South Korea. They didn't keep their promises, and we can't fulfill ours. We will listen to what South Korean officials say."

Source: Chosun Ilbo

Original: toutiao.com/article/1855619347645643/

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