Washington: South Korea's industry minister and trade chief visited the United States this week to coordinate responses to tariff issues and other pending trade matters between Seoul and Washington, the industry ministry said Saturday.
According to Yonhap News Agency, Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo met separately with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer on Friday to discuss pending bilateral trade issues. The visit was arranged to address uncertainty surrounding tariff policies following a recent U.S. Supreme Court ruling that struck down reciprocal tariffs imposed by former U.S. President Donald Trump's administration. The discussions also aimed to advance the implementation of a bilateral trade agreement.
During his meeting with Lutnick, Minister Kim shared Seoul's progress in implementing the trade agreement, including the introduction of legislation for a special law intended to support investment in the United States. The discussion also focused on ways to enhance strategic investment cooperation between the two nations. Kim emphasized the importance of effectively guaranteeing previously agreed tariff arrangements, especially as Washington considers tariff policies under Section 122 of the Trade Act and Section 232 of the Trade Expansion Act in light of the Supreme Court ruling.
In a separate meeting, Trade Minister Yeo and Representative Greer deliberated on plans to implement non-tariff measures outlined in a joint fact sheet released by the leaders of South Korea and the United States. They agreed to schedule a joint committee meeting concerning the South Korea-U.S. free trade agreement at a suitable time. Yeo also expressed Seoul's concern that a petition filed by U.S. investors in e-commerce firm Coupang Inc., which seeks a Section 301 investigation, should not adversely impact bilateral trade relations.
Source: Yonhap News Agency