The Democratic Party officially proposed the establishment of a Party Policy Council to the government on the 8th in response to the 'tariff' imposed by the second Trump administration. Under the Prime Minister's directive, a Party Policy Council can be established to discuss current issues between the administration and each political party in the absence of the ruling party due to events like presidential dismissal. The Democratic Party is in favor of discussing trade responses and the preparation of a supplementary budget proposal at this council.
Jin Sung-jun, chair of the Democratic Party's policy committee, stated at a party strategy meeting that day, "I propose that the government hold a Party Policy Council in accordance with the regulations." According to the regulations, the Party Policy Council is hosted by the Prime Minister, and the floor leaders and policy committee chairs of each party participate.
Chair Jin noted, "Let's deliberate on the trade diplomacy strategy to persuade the U.S. and discuss ways for the National Assembly and the government to take comprehensive action," adding, "We should also discuss support measures for our export companies and small business owners who are in existential crisis due to the tariff bomb and civil unrest."
Regarding the government's proposal for a '10 trillion won' supplementary budget, he said, "It is impossible to respond minimally," adding, "A supplementary budget that includes the Democratic Party's proposed 4 major consumption-boosting packages, which involves bold fiscal spending, is urgent." He emphasized that funds for "emergency management security money" to compensate small businesses that have suffered operational damage due to the emergency martial law situation should also be allocated.
In relation to this, the Democratic Party held an emergency meeting at the policy committee level the day before. Hosted by the Democratic Party's Strategy and Finance Committee, officials from the Ministry of Economy and Finance, Korea International Trade Association, and KIEP were in attendance. It was reported that discussions included persuading that ▲ Korea does not impose tariffs on the U.S. due to the FTA agreement and ▲ Korea has invested most of its trade surplus with the U.S. locally.
Chair Jin also remarked, "Given our country's current circumstances, where we cannot engage in normal diplomacy, the National Assembly must step in," adding, "The non-tariff barriers claimed by the U.S. government are something every country necessarily enacts, and during Trump’s first term, Korea invested $14.38 billion of its annual trade surplus with the U.S. of $14.95 billion locally." He continued, "The U.S. government needs to be made aware that all the money earned from the U.S. was invested locally."