South Korean Leaders Meet to Counter US Tariff Threats, Discuss Key Bills

The meeting, set for 5 pm at the residence of the prime minister, comes as rival political parties agreed last week to establish a special committee to handle the investment bill amid US President Donald Trump's tariff hike threats, Yonhap News Agency reported.

Participants include Prime Minister Kim Min-seok, President Lee Jae Myung's chief of staff Kang Hoon-sik, the ruling party's chief Rep. Jung Chung-rae and presidential secretary for political affairs Hong Ik-pyo.

They are expected to share the results of a recent trip to the US by key trade officials over Trump's tariff policy and discuss the DP's strategy to pass the special investment bill.

Last month, Trump threatened to raise "reciprocal" tariffs and auto, lumber and pharmaceutical duties on South Korea to 25 per cent from 15 per cent, citing a delay in the parliamentary process to pass a special investment bill facilitating the implementation of a trade deal reached by the two countries.

Under the trade deal, South Korea has committed to investing USD 350 billion in the US, among other pledges, in return for the US lowering reciprocal tariffs on South Korea to 15 per cent from 25 per cent.

The participants in the Sunday meeting are likely to discuss the government and the DP's move to ease restrictions on so-called dawn delivery for the country's large discount store chains.

Earlier this month, the DP proposed a bill that will allow big-box store chains to operate online businesses for 24 hours so that they would be able to do overnight delivery services.

The bill was part of efforts to map out "win-win" measures for offline stores and online shopping platforms. But labor groups are opposed to the legislative move, citing an increase in nighttime work hours.

- IANS