The U.S. announced on Thursday that it will impose a 25% tariff on all imported passenger vehicles and key auto parts, citing national security threats under Section 232 of the Trade Expansion Act. The tariff will take effect on April 3 for vehicles and no later than May 3 for parts, overriding prior trade agreements including the U.S.-Korea Free Trade Agreement (KORUS).

In response, South Korea’s trade ministry convened an emergency meetingin Seoul with automakers, parts suppliers and industry experts. Trade Minister Ahn Duk-geun warned that the tariff would present “significant difficulty” for South Korean firms and pledged to