[서울=뉴스핌] Reporter Kim Seung-hyeon and Bae Jeong-won = On the 27th, the Democratic Party of Korea responded to U.S. President Donald Trump’s declaration that he would raise the tariff rate from 15% to 25% by defining the delay in ratification by the Korean National Assembly as a “non-compliance with the transaction” and saying, “The National Assembly is currently processing the special law according to the schedule of the National Assembly Act. Discussions are underway between the ruling and opposition parties.”
Democratic Party floor spokesperson Kim Hyun-jung made this statement when meeting with reporters after the Democratic Party’s closed-door floor plan meeting held at the National Assembly on this day.
|
|
| U.S. President Donald Trump watches after signing an executive order and proclamation in the Oval Office of the White House in Washington, D.C., on May 5, 2025. [사진=로이터 뉴스핌] |
Spokesperson Kim said, “Some media reports that (tariff re-increase) was done because it was not ratified, but they say ‘enact’ rather than ratification, so it was not enacted.”
He continued, “Five bills have already been referred to the National Assembly’s Finance and Economic Planning Committee. The People Power Party was opposing the passage of the special law, arguing that ratification was necessary. However, among the five bills currently, there is one submitted by People Power Party lawmaker Park Seong-hoon in November. So, I tell you that discussions will progress.”
Spokesperson Kim said, “In the case of the Special Act on Investment in the United States, measures to raise financial resources of more than 20 billion dollars per year, exchange rate measures, and mutually elaborate legislation are needed. We also believe that it must be handled through agreement between the ruling and opposition parties. Since the special law has many factors to consider, such as financial resources measures, agreement between the ruling and opposition parties is needed, and we plan to proceed quickly in consultation with the government.”
He emphasized, “It will be carried out according to the schedule for processing the Finance and Economy Committee bill,” and “Deputy Prime Minister for Economic Affairs Koo Yun-cheol is scheduled to come in person at 3:30 this afternoon and report to the Democratic Party, and the Democratic Party is responding in close consultation with the government.”
When asked whether he believed the Trump administration would agree to a special law without ratification, Spokesperson Kim responded, “Basically, our position is that it is not subject to ratification by the National Assembly, and if we ratify it, our country will only be further detained. The United States also raised tariffs without the consent of the National Assembly through an executive order. The other country did not ratify it but did it through an executive order, so if only Korea ratifies, the constraints are bound to become considerably stronger.”
He continued, “So strategically, there is no need for us to do that (ratification),” and added, “And based on the fact sheet, ‘Prohibition of discrimination against American companies,’ an investment company in Coupang is sending an official letter to the Korean government. In relation to that, it is an issue that the Democratic Party will respond to one by one. Basically, Coupang’s Korean corporation is subject to Korean law.”
kimsh@newspim.com
Copyright (c) Newspim, a comprehensive news agency that is a shortcut to global leaders, unauthorized reproduction and redistribution prohibited
