President Trump is preparing to revise the legal basis for U.S. tariffs this week as the temporary 10% duty on nearly all imports approaches the end of its 150-day limit under Section 122 of the Trade Act. Markets and trading partners are watching whether Washington shifts to country-specific tariffs, potentially using Section 301 or other rarely used legal provisions. South Korea said the United States Trade Representative had put it on a list for an additional 12.5% tariff tied to concerns about inadequate import bans related to forced labor, but Seoul believes any new U.S. action would remain within the 15% ceiling under the South Korea-U.S. trade agreement. The move could reopen a period of trade uncertainty for businesses, with potential effects on import costs, supply chains, inflation expectations and broader risk sentiment.