The government will respond to minimize the impact of the United States' tariff imposition on exports.
On the afternoon of the 12th, the government announced that a fourth intergovernmental domestic response task force related to trade issues was held at the Government Sejong Center, chaired by Kim Beom-seok, Acting Minister of Economy and Finance. Representatives from the Ministry of Science and ICT, Ministry of Agriculture, Food and Rural Affairs, Ministry of Trade, Industry and Energy, Ministry of Health and Welfare, Ministry of Oceans and Fisheries, Ministry of SMEs and Startups, and Ministry of Employment and Labor participated in the meeting.
The United States concluded trade negotiations with the United Kingdom on the 8th and is also engaged in negotiations with China on the 10th and 11th. However, discussions with the United Kingdom and China are expected to become more concrete, raising concerns about rapid changes in the situation. In response, task force participants formed a consensus on the need to prepare for domestic impacts and tariffs by major sectors.
The government agreed that it must actively address the export of semiconductors, the largest global export item. Participants emphasized the importance of actively communicating and responding with the United States regarding semiconductors, which are mentioned as targets for tariff imposition. In the case of pharmaceuticals, since the United States is our largest export country, the government decided to respond closely to minimize export impacts.
The government decided to ensure thorough measures to alleviate export difficulties to the U.S. by operating an export information desk related to agricultural and fishery products. For major products with a high export share to the U.S., such as seaweed and oysters, trends will be monitored more closely.
A government official noted, "In the case of agricultural and fishery products, while their share of our overall exports is not high, difficulties may arise due to decreased sales for farmers and fishermen, so we have decided to respond separately."
Meanwhile, the government reviewed the execution plans for tariff damage and export corporation support projects included in the supplementary budget during the meeting. The export voucher will be announced as a project this month and scheduled for disbursement starting in June. The Emergency Management Stabilization Fund will also begin accepting applications in May to minimize corporate difficulties.
In addition, the government decided to check the status of tariff-related difficulties being received and processed weekly at the One-Stop Tariff Response Support Center. Furthermore, the government will actively respond to corporate difficulties by providing integrated information on global trade and tariff response support projects and events through its website.