Blue House, "Monitoring developments" on U.S. court ruling that 'Trump's 10% global tariff is illegal'

Blue House, "Monitoring developments" on U.S. court ruling that 'Trump's 10% global tariff is illegal'

"Respond calmly under the principle of securing a balance of interests according to existing tariff agreements"

The Blue House emphasized on the 8th that it would calmly respond according to the principle of 'securing a balance of interests' under the existing tariff agreement between Korea and the U.S., regarding the U.S. Trade Court's ruling that U.S. President Donald Trump's '10% global tariff' is illegal.

A Blue House official said, "This ruling is a first-instance decision regarding the Section 122 tariff lawsuit filed in the U.S. in early March," adding, "We understand that the effect of the ruling is limited to some of the plaintiffs."

He further emphasized, "Tariffs based on Section 122 of the U.S. Trade Act can only be imposed for a maximum of 150 days," adding, "The government plans to continue to closely monitor related developments and respond calmly under the principle of securing a balance of interests according to our existing tariff agreements."

On the 7th (local time), the U.S. Court of International Trade ruled 2-1 in favor of the plaintiffs, stating that the 10% global tariff newly imposed by the Trump administration on all trade partners worldwide based on Section 122 of the Trade Act is illegal and invalid.

The court issued a permanent injunction stating that the 10% global tariff cannot be applied to the importing companies that filed the lawsuit and ordered the Trump administration to refund the tariffs already paid by the plaintiff companies with interest.

Section 122 of the U.S. Trade Act allows the U.S. President to impose tariffs for up to 150 days to address large and serious balance of payments deficits.