South Korea’s ruling Democratic Party said it would pass a special bill targeting the U.S. trade deal by the end of February after U.S. President Donald Trump threatened to impose higher tariffs on South Korean exports, Yonhap News Agency reported.

early Tuesday, Trump said he would raise export tariffs on South Korea to 25% from the current 15%, citing delays in the country’s parliament ratifying the Washington-Seoul trade deal reached last July.

Kim Hyun-jung, spokesman of the ruling Democratic Party explain According to a Google translation of a Korean-language statement submitted to South Korea’s parliament last November, Trump may have been referring to the Strategic Investment Management Special Act between South Korea and the United States.

The bill seeks to establish a state-owned investment company Manage Seoul’s planned $350 billion investment commitment to Washington.

Kim Jong Un said five related bills have been submitted to the National Assembly and are scheduled to be reviewed, adding, “Both the Democratic Party of Korea and the People’s Power Party have proposed these bills, which may speed up the passage of these bills.”

ruling party democratic party Currently has 162 seats The National Assembly has 300 seats, of which 4 are vacant, while the PPP has 107 seats.

“What is needed now is to confirm the intentions and facts of the US statement as soon as possible and correct any misunderstandings,” she said.

According to South Korean media Yonhap News Agency, earlier that day, South Korea’s Blue House stated that it had not received any official notification or explanation from the United States regarding this news.

South Korea’s Finance Ministry said it would keep the United States informed of the legislative process, while Seoul’s Trade Ministry said Industry Minister Kim Jong-kwan would visit Washington for talks on the matter, Yonhap News Agency reported.

Kim Jong-un said: “It is time for the government and the ruling and opposition parties in the National Assembly to join forces. I look forward to bipartisan cooperation from the People’s Power Party.”

South Korean automakers Hyundai and Kia tumbled in early trading after Trump’s threats, but later pared losses. Hyundai Motor’s last share price fell 0.1%, and Kia Motors fell 1.16%. The Kospi composite index rose 1.9% and the Kosdaq small-cap index rose 0.89%.