Finance Minister Choi Sang-mok has called on officials to strengthen monitoring of the stock, government bond, foreign exchange and capital markets amid sweeping tariffs from the United States and the intensifying trade war between the U.S. and China.

Choi made the request Friday during a meeting on macroeconomic issues that was attended by Bank of Korea Gov. Rhee Chang-yong, Financial Services Commission Chairman Kim Byoung-hwan and Financial Supervisory Service chief Lee Bok-hyun.

The minister said that despite the U.S. government’s 90-day tariff moratorium, uncertainties remain, pointing to Washington and Beijing’s tit-for-tat tariffs and other variables.

He instructed the officials to stay alert and prepare contingency plans.

According to the ministry, the officials agreed it is a meaningful achievement that the debt-to-income ratio has declined for the first time in seven years thanks to the effective management of household debt.

They also said that to enhance the sustainability of the nation’s economy, thorough management and response efforts should continue.