South Korea industry minister arrives in Washington to discuss tariff warning, Yonhap says
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US President Donald Trump, in a social media post on Jan 26, said he would hike tariffs from 15 per cent to 25 per cent because Seoul had not enacted legislation linked to the trade deal in 2025.
PHOTO: REUTERS
SEOUL – South Korea’s Industry Minister Kim Jung-kwan arrived in Washington on Jan 29 and said he would meet US Commerce Secretary Howard Lutnick to clarify Seoul’s position on a “delayed” Korea-US trade deal, said Yonhap News Agency.
US President Donald Trump has threatened to raise tariffs on South Korean goods
Speaking to reporters at Dulles airport, Mr Kim said he understood Washington’s complaint was centred on delays in the South Korean Parliament passing trade deal legislation.
“From what we hear, the United States is unhappy about the domestic legislative process,” Yonhap quoted Mr Kim as saying.
South Korean lawmakers are scheduled to hold their first parliamentary session of the year in February to pass various Bills, which include the trade deal.
Citing a phone call he had held with Mr Lutnick after Mr Trump’s tariff comments, Mr Kim added he plans to “clearly explain there is no change in the South Korean government’s commitment to cooperation and investment with the United States.”
Mr Kim is also scheduled to meet the US Energy Secretary Chris Wright, according to a ministry press release.
Mr Trump in a social media post on Jan 26 said he would hike tariffs from 15 per cent to 25 per cent because Seoul had not enacted legislation linked to the trade deal in 2025, prompting alarm in Seoul.
On Jan 27, he signalled a softer tone
Mr Trump’s trade negotiator Jamieson Greer said the US lowered tariffs to 15 per cent in 2025 in exchange for South Korea’s pledge to invest US$350 billion (S$442 billion) in the US and expand market access, but that Seoul had yet to pass the required Bills.
South Korean lawmakers expressed hope the Bills would be approved in February, when they are expected to hold a plenary parliamentary session.
Officials also stressed they have reached out to the US through multiple channels to prevent further escalation.
Trade Minister Yeo Han-koo is also expected to visit Washington for talks with Mr Greer. REUTERS
