Dialogue on Trade and Tariffs

In a recent video conference, Acting South Korean President Choi Sang-mok and United States Treasury Secretary Scott Bessent discussed pivotal issues surrounding trade policy, tariffs, and investment strategies. This meeting underscores the ongoing dialogue between the two nations aimed at fostering mutual economic growth and stability.

South Korea's Economic Resilience

Choi highlighted the resilience of South Korea's economy amidst recent political upheavals, including the imposition of martial law and the impeachment of President Yoon Suk Yeol. He emphasized the importance of recognizing South Korea's contributions to the US economy, especially when considering the implementation of reciprocal tariffs.

Seeking Exemptions from US Tariffs

In a bid to protect its industries, a South Korean delegation recently approached the Trump administration, requesting an exemption from the newly imposed US steel and aluminum tariffs. This move reflects South Korea's proactive stance in safeguarding its economic interests while navigating the complexities of international trade agreements.