US wants S. Korea to join efforts to counter China in shipbuilding
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Seoul is negotiating a lower tariff than the 25 per cent US President Donald Trump has announced.
PHOTO: REUTERS
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SEOUL – The US wants South Korea to join efforts to counter China’s growth in shipbuilding via potential cooperation in the sector, a senior official from Seoul’s trade ministry said on July 11.
“The United States feels a sense of crisis that China’s market share in the shipbuilding sector is growing and is tapping Korea as a strategic partner,” Trade Policy Director Chang Sung-gil said at a forum hosted by a lawmaker.
The US is asking Seoul to join measures to curb China in “other areas” as the “precondition” for bilateral cooperation in shipbuilding, he said, without elaborating.
He later clarified that he was referring to the shipbuilding sector as the potential area where the US wants Seoul to join hands in terms of taking on China.
The US also expressed reservations when it comes to cutting or eliminating industry-specific tariffs, such as those on cars and steel, Mr Chang said.
The US is asking Seoul to boost US investments and purchases of US energy and agriculture products in return for negotiating over reciprocal tariffs of 25 per cent, he said.
But he added: “There is a lot of political sensitivity in South Korea when it comes to expanding imports of agricultural products.” REUTERS
