South Korean Deputy Prime Minister: The existing trade agreement between South Korea and the United States is valid and not affected by the U.S. court's tariff ruling

South Korea's Deputy Prime Minister and Minister of Economy and Finance, Koo Runchul, stated today (23rd) that the existing trade agreement reached between South Korea and the United States remains effective and is not affected by the ruling of the U.S. Supreme Court regarding tariffs.

The U.S. Supreme Court recently ruled that the International Emergency Economic Powers Act does not authorize the president to impose large-scale tariffs, meaning that the tariff policies during the Trump administration were illegal. However, the tariffs on imported automobiles and steel products remain in effect.

Regarding U.S. President Trump's announcement to raise the "global import tariff" to 15%, Koo Runchul pointed out that under the Korea-U.S. Free Trade Agreement, South Korea enjoys zero tariff treatment, which puts it in a relatively advantageous position compared to countries subject to a 2.5% general tariff rate