The Asian democracy and longtime US ally faces 25% tariffs as part of Trump’s global tariffs rollout this week, which could hammer an export-led economy that fills American homes and roads with brands like Samsung, LG and Hyundai and drive up the cost of those goods for consumers.
Acting President Han Duck-soo, who stepped into the role after his predecessor was ousted over a martial law crisis that is still reverberating across the country, said South Korea “clearly would like to negotiate” with the US and praised the two countries’ “very strong alliance.”
When asked whether South Korea might band together with other countries like Japan or China to push back against the US tariffs, his answer was clear: “We will not take that route.”
“I don’t think that kind of fighting back will improve the situation dramatically,” he said, downplaying the significance of a recent meeting between the trade ministers of the three Asian nations. “I don’t think it will be really profitable for the three of us, and especially for Korea.”
The comments came as China doubled down on its condemnation of Trump’s trade war, describing his latest tariff threats as a “mistake upon a mistake” and reiterating its vow to “fight to the end.”
Veteran politician Han, 75, was tapped as acting president in December after former leader Yoon Suk Yeol declared martial law, for which he had his powers suspended, was impeached and ultimately removed from office.
But Han himself was impeached just two weeks later over his refusal to fill a vacant seat in one of the country’s top courts and was only reinstated to the role in late March.
He’d occupied the role for only nine days when Trump unveiled a raft of tariffs hitting dozens of nations, despite a free trade agreement between Washington and Seoul.
The latest measures follow an earlier 25% tariff on steel and aluminum, imposed last month, which will hit South Korea hard as the fourth-largest exporter of steel to the US. That’s in addition to a separate 25% levy on US imports of cars and auto parts, an industry the country excels in.
The litany of tariffs poses a particular challenge for the country as it navigates its upcoming election after months of political upheaval, deep uncertainty and economic strain. In the end, Han may only remain in office for a few more months until a new leader is chosen in June.
‘Not everything will be solved in a day’
During the interview, Han described the US tariffs as “a pity,” acknowledging that “not everything will be solved in a day or two” and that South Korean businesses should brace for impact. However, he also voiced optimism – saying he believed the two countries can reach a resolution before factory lines start closing across Korea.
Much like Japanese Prime Minister Shigeru Ishiba – who spoke to Trump Monday night – Han seeks an off-ramp, not retaliation.
“I think we should, in a very cool way, assess what this kind of 25% means for us, and we should, in a very cool way, negotiate with them,” he said, adding he had already dispatched his trade minister to Washington.
A fluent English speaker, Han has been working in the government since the 1970s, with deep expertise on economics. His dissertation for his Harvard University economics PhD – appropriately for the current moment – was about how South Korea’s economy could weather external shocks.
He then took on various roles in the Ministry of Trade and Industry, before briefly serving as prime minister and then as the Korean ambassador to the United States. It was during that time that he played a key part in helping negotiate the US-Korea Free Trade Agreement.
Given his background, it is perhaps not surprising Han leans heavily on economic theory and historical precedent. He repeatedly referenced the last major global trade war in the early 1930s – which was sparked by the US imposing protectionist tariffs and helped trigger a worldwide recession.
“In game theory, just doing things individually may not help the situation to improve,” he said. “We should communicate, cooperate and work together. I think we should try to find a win-win situation.”
Global markets have been sent into a tailspin by Trump’s tariffs, and even usually cautious Asian leaders have spoken in stark terms about how the US is upending international trade.
“It marks a seismic change in the global order,” Singaporean Prime Minister Lawrence Wong warned over the weekend, arguing the world is entering a new phase that is “more arbitrary, protectionist and dangerous.”
Asked about that reaction from the nearby trade hub, Han said he was comparatively more sanguine. “Globalization is not dead, it can never be dead,” Han argued.
South Korea is America’s sixth-largest trading partner, with total trade in goods and services reaching $197 billion in 2024, according to the Office of the United States Trade Representative.
Last year, Korean exports to the US hit a record high of $128 billion, led by automobiles and machinery, according to Korean authorities. The US trade deficit with South Korea also surged, reaching $66 billion in 2024.
An economic expert at the helm
But the current tariffs could pose a major challenge even for a seasoned negotiator and trade expert like Han, with Trump’s recent rhetoric reflecting his refusal to bend.
“We can make a really fair deal … a good deal for the United States, not a good deal for others,” Trump told reporters on Monday. “This is America first.”
Senior Trump trade advisor Peter Navarro echoed those remarks, writing in the Financial Times on the same day: “This is not a negotiation. For the US, it is a national emergency triggered by trade deficits caused by a rigged system.”
As nations around the world scramble to strike tariff deals with Trump and launch emergency procedures to soften the economic blow, China has positioned itself as an oppositional force standing up to what it called American “bullying.”
That has alarmed some US leaders and economists, who warn Trump’s tariffs could push countries closer to American rivals – especially since some of the highest tariffs have targeted poorer Asian nations like Vietnam and Cambodia.
The tariffs “drive people into the arms of China, who will offer pretty good trade terms while we’re in the process of conducting this massive tariff carpet bombing,” said James Stavridis, formerly NATO’s Supreme Allied Commander and a partner at global investment firm The Carlyle Group.
“Look at Asia right now. A week ago, we saw Japan, South Korea and … China talking about coordinating their responses to our tariffs. That’s an alignment we don’t want,” he said, referring to the March meeting between the three countries. “We want to hold our allies firm and we want to build the case against our opponents like China, Russia, Iran and North Korea.”
That meeting drew attention due to its timing, just before Trump’s tariff announcement, and because the three countries have had historically fraught diplomatic relations. Tensions have risen in recent years as the US and its partners sought to counter Chinese influence in the Indo-Pacific by strengthening alliances and courting smaller nations.
But South Korea and China have also maintained a strong trade relationship. At $133 billion, Korean exports to China last year exceeded even those to the US, government figures show, even though some of those products were eventually exported again after processing.
On Tuesday, Han insisted that the trilateral meeting “was not a very extraordinary one, it was a normal meeting.” He added that the trio often hold ministerial meetings – and it just happened to be the trade ministers’ turn to convene.
“Clearly they might say, what are the implications of this kind of new US policy, but it’s not some kind of coalition of fighting back,” he said – adding that that kind of response could “really contract global trade.”
Correction: An earlier version of this article misstated Han’s age