Seoul: The presidential office plans to hold an emergency meeting Wednesday to discuss responses to U.S. President-elect Donald Trump’s proposal to impose tariffs on three trading partners, a senior presidential official said. The meeting comes after Trump stated 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.

According to Yonhap News Agency, the meeting is expected to analyze the U.S. 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 noted.

Trump’s proposal has raised concerns among Korean companies that have invested in Mexico, a key manufacturing base for the North American market. These companies benefit from low labor costs and a free trade agreement between the U.S., Mexico, and Canada. The potential tariffs threaten to disrupt these economic advantages, prompting u
rgent discussions at the presidential level.