President Yoon Suk Yeol speaks during a Cabinet meeting held at the presidential office in Seoul on Oct. 29. (Yonhap)
The presidential office plans to hold an emergency meeting Wednesday to discuss responses to US President-elect Donald Trump's proposal to impose tariffs on three trading partners, a senior presidential official said.
The meeting comes after Trump said on social media that he will use an executive order to levy new tariffs on Canada, China and Mexico on his first day in office.
The meeting is expected to analyze the US trade policy in Trump's second term and discuss potential countermeasures.
"It aims to review the current situation and assess the potential impact of (the proposed tariffs) on Korean companies," the official said.
Trump's proposal has raised concerns among Korean companies that have invested in Mexico, a manufacturing base for the North American market, leveraging the low labor costs and a US-Mexico-Canada free trade agreement. (Yonhap)
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