Seoul: South Korea plans to strengthen interministerial coordination to address uncertainties surrounding trade policies under the incoming U.S. Donald Trump administration, the trade minister said Monday. Trade Minister Cheong In-kyo made the remarks during a meeting with trade-related ministries to discuss strategies for addressing potential changes in U.S. trade policies, emphasizing the importance of preparedness.According to Yonhap News Agency, "While details of new policies under the Trump administration are still difficult to predict, it is important to thoroughly review pending bilateral trade agendas and seek countermeasures to maintain a stable trade relationship," Cheong said. The minister highlighted the need for a comprehensive review to ensure stability in trade relations with the United States."As Korea-U.S. trade agendas have been managed in a stable manner so far, we plan to address any future issues thoroughly at a government-wide level to alleviate uncertainties for our businesses and c ontinue the mutually beneficial trade relationship," Cheong added. This statement underscores the government's commitment to managing potential disruptions and maintaining a steady trade environment.The business community has been closely monitoring potential changes in U.S. trade policies, including the possibility of reducing or eliminating the CHIPS and Science Act, and the Inflation Reduction Act. These potential policy shifts are of significant concern to South Korean businesses that rely on stable trade relations with the U.S.Trump has also called for sweeping tariffs of a minimum 10 percent on all imported goods. Such measures could have substantial implications for South Korean exports, prompting the need for proactive coordination among South Korean ministries to address these challenges effectively.
- October 12, 2026
