South Korea Initiates Tariff Discussions with the U.S.

In response to the U.S. imposing a 25 percent tariff on steel, aluminum, and derivative products, South Korea's Cheong In-kyo, head of the trade negotiation division at the Ministry of Trade, Industry and Energy (MOTIE), is in the U.S. for crucial discussions. Cheong emphasized the importance of identifying grading criteria and addressing necessary fixes to persuade where needed.

During his visit, Cheong plans to meet with key U.S. trade officials, including U.S. Trade Representative Jamieson Greer, to discuss the implications of these tariffs. He noted the variability in reciprocal tariffs and the timeline for their imposition, suggesting a process that could take one to two months.

Strategic Discussions and Future Cooperation

Cheong highlighted the strategic advantages South Korea holds within the U.S. economic security policy and the intention to leverage these in discussions for mutually beneficial measures. He also touched upon the potential for South Korea's participation in Alaska’s gas pipeline project, indicating a process of determination through working-level consultations.

Despite the challenges, Cheong remains optimistic about the continued cooperation between South Korea and the U.S. in trade and industry, aiming to actively communicate South Korea's industrial strengths and trade system improvements to the U.S.