S. Korea Pushes Washington to Scrap Extra Tariffs
(MENAFN) South Korea has renewed its appeal to the United States, urging President Trump's administration to eliminate additional tariffs imposed on the East Asian nation. Seoul's renewed pressure comes as the country navigates a period of political transition following the removal of its former president.
Industry Minister Ahn Duk-geun met with U.S. Trade Representative Jamieson Greer in Seoul during an APEC trade ministers' gathering. According to a South Korean news agency, Ahn emphasized South Korea's unique position as a US FTA partner, highlighting the expanded trade and investment between the two nations under the agreement. He also underscored the significant impact of U.S. tariffs on automobile and steel imports on their bilateral trade relationship, stating, "In Friday's meeting, we tried to raise awareness that South Korea has a bilateral free trade agreement (FTA) with the US, unlike some other countries, and has expanded trade and investment with the US under the FTA." Ahn further explained that Seoul has "also explained that U.S. tariffs on automobile and steel imports have a huge impact on trade relations between the two countries."
Looking ahead, Ahn announced that the two countries are scheduled to hold a second round of technical discussions in Washington, covering six key trade areas, with potential high-level talks to follow in mid-June. These areas include trade imbalances, non-tariff measures, economic security, product origin, and commercial considerations.
Following high-level discussions in Washington last month, both sides agreed to pursue a "package" deal encompassing tariffs and economic cooperation by July 8. Ahn affirmed Seoul's commitment to meeting this deadline, stating that South Korea is "doing its best."
However, Ahn acknowledged the potential for delays due to the ongoing political instability in South Korea, triggered by the removal of former President Yoon Suk Yeol and the subsequent snap presidential election slated for June 3. "The US understands we are not trying to unnecessarily delay our negotiations by using the domestic political situation as an excuse,” Ahn assured.
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