South Korea's finance minister said on Monday the government would prepare support measures for sectors with urgent needs, ahead of U.S. President Donald Trump's 25% tariff, which will come into force this week.

South Korea is sending its trade minister to the US this week to discuss tariffs after President Donald Trump’s administration hit the Asian ally with a 25% levy, among the highest duties to be imposed on a US security ally.

President Donald Trump ignited a global trade war by announcing a plan to impose a 10% baseline tariff on most goods imported to the United States on April 2 and higher duties on more than 60 countries under the so-called reciprocal tariff scheme.