The Biden administration's recent decision to increase tariffs on $18 billion worth of Chinese imports has prompted South Korea's Finance Minister Choi Sang-mok to announce that the government will be closely monitoring the impact of this move. Despite South Korea experiencing seven consecutive months of export growth, Choi emphasized the growing uncertainties in the global economy and trade environment. He stressed the need to assess the potential impact on the South Korean economy and prepare for various scenarios based on previous trade dispute cases and the current trade trend between the US and China. Choi highlighted the importance of implementing tailored measures for different businesses, including those operating in China and those competing with Chinese firms, while also emphasizing the need to monitor Beijing's response to the new US tariff policy. He reassured that South Korea will continue to engage with local businesses to help them maintain competitiveness in the global market. In summary, South Korea is closely monitoring the impact of the US decision to raise tariffs on Chinese imports, and is preparing measures to address potential scenarios and support local businesses in navigating the evolving trade environment.