Jan. 29 (Asia Today) — U.S. Treasury Secretary Scott Bessent said Tuesday that Washington does not recognize any trade agreement with South Korea unless it is ratified by the South Korean National Assembly, reaffirming that higher tariffs would remain in place until legislative approval is secured.
In an interview with CNBC, Bessent said the absence of parliamentary ratification meant no valid agreement existed between the two countries.
“Because the South Korean National Assembly has not passed the trade agreement, there is no trade agreement with South Korea until they approve it,” Bessent said, repeatedly emphasizing the need for lawmakers to ratify the deal.
Asked whether South Korea would face 25% tariffs until ratification, Bessent replied, “I think that helps move the situation forward,” a comment widely interpreted as signaling tariff pressure aimed at accelerating legislative action.
His remarks clarified the backdrop to Donald Trump’s announcement Sunday that the United States planned to raise reciprocal tariffs on South Korean exports, including automobiles, timber and pharmaceuticals, from 15% to 25%.
In a post on Truth Social, Trump said the South Korean legislature had failed to enact what he described as a “historic trade agreement.” No executive order or formal notice has yet been issued to implement the tariff increase.
Trump later suggested negotiations could still resolve the issue, saying Monday that Washington would “work with South Korea to find a solution.”
Pressure from the Trump administration has extended beyond tariffs. The Wall Street Journal reported that Washington has raised concerns over South Korea’s regulatory treatment of U.S. technology companies. According to the report, J.D. Vance told South Korean Prime Minister Kim Min-seok during a White House meeting last week that the administration wanted meaningful de-escalation in how U.S. tech firms are regulated.
South Korea has fully mobilized its trade channels to assess Washington’s intentions. Trade Minister Kim Jeong-kwan is scheduled to travel to Washington later Tuesday after completing meetings in Canada, where he is expected to meet U.S. Commerce Secretary Howard Lutnick. Trade Negotiations Commissioner Yeo Han-koo also plans consultations with the U.S. trade representative.
— Reported by Asia Today; translated by UPI
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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260129010013312