The United States is set to impose reciprocal tariffs on trading partners worldwide starting from the 2nd of next month, according to a government official who noted that new trade negotiations could be established.
U.S. Secretary of State Marco Rubio said in an interview with CBS on the 16th (local time), “We can reset the baseline and potentially enter into a bilateral agreement,” adding, “That’s how our trade can be made fairer.”
Rubio's remarks suggest that the U.S. intends to forge new trade agreements with its trading partners. If new agreements are made with countries that have free trade agreements (FTAs) with the U.S., Korea cannot escape the fallout.
Rubio cited the European Union (EU) as an example, saying, “Their economic scale is nearly similar to ours,” and asking, “If we are similar, why are they recording a trade surplus against the U.S.?”
He added, “President Trump believes that to protect core industries such as aluminum, steel, semiconductors, and automobile manufacturing, it is necessary to ensure economic incentives for production in the U.S.”
He stated, “We will impose tariffs identical to those imposed by our counterparts,” and said, “We will establish a new standard of fairness and reciprocity and engage in bilateral negotiations with countries around the world for new trade agreements.”
Rubio pointed out that factories have left the U.S. under the current trade structure, leading to the creation of the Rust Belt. He said, “President Trump has been highlighting this issue since the 1980s before he became a politician,” and remarked, “A new trade agreement will be established.”
Rubio said, “The reason trading partners do not prefer reciprocal tariffs is that the current trade structure is favorable to them,” and added, “We will establish a new status and can negotiate.”