South Korea’s industry minister, Ahn Duk-geun, requested a tariff exemption in talks with U.S. officials in Washington, as the Biden administration prepares to impose new trade measures, Seoul's industry ministry said on Saturday.
Ahn met with U.S. Commerce Secretary Howard Lutnick, U.S. Interior Secretary Doug Burgum, and U.S. Trade Representative Jamieson Greer during his visit, seeking exemptions from the new tariffs imposed by the administration of U.S. President Donald Trump. Discussions also focused on strengthening bilateral cooperation in key industries, including shipbuilding and advanced technology sectors.
According to South Korea’s industry ministry, Ahn highlighted concerns over Washington’s tariff measures and urged for exemptions for South Korean firms. Both countries agreed to establish a working-level dialogue to address tariff-related issues and further cooperation in the shipbuilding sector.
The trade discussions come amid political uncertainty in South Korea, as President Yoon Suk Yeol remains suspended from duties following his impeachment over his controversial declaration of martial law. Ahn’s meeting with Lutnick marked the first ministerial-level trade dialogue between the two nations under Trump’s second term.
Ahn’s visit follows a trip by Deputy Trade Minister Park Jong-won last week, where he led a South Korean delegation to Washington to request exemptions from U.S. steel and aluminium tariffs. The concern stems from Trump’s recent announcement of a 25% tariff on steel and aluminium imports globally, including from South Korea, set to take effect in March. Additional reciprocal tariffs are scheduled to begin in April.
South Korea, a key trading partner with the U.S., has expressed growing unease over the impact of these tariffs on its economy. The country is among 20 nations with comprehensive free trade agreements (FTAs) with the U.S., including Australia and Singapore, though Trump’s new trade policies could override some existing agreements.
Meanwhile, South Korea’s acting President and Finance Minister Choi Sang-mok urged U.S. Treasury Secretary Scott Bessent to consider Seoul’s contributions to the U.S. economy when formulating trade policies. The South Korean government continues to push for negotiations, seeking to minimise economic disruptions amid the shifting U.S. trade landscape.
The Saudi-led coalition in Yemen said late Monday that it intercepted and destroyed two ballistic missiles laun...
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling t...
Kazakhstan’s competition regulator has issued a formal warning to ride-hailing platform inDrive after fares for some journeys reportedly near...
One person was killed and nearly a dozen hurt in a fresh attack on Riyadh's international airport on Sunday, Saudi authorities reported, a day after a strike claimed by Yemen's Houthis killed 13 people and wounded more than 300.
Yemen's Houthis renewed warning to airlines, airport workers, and travellers against using Saudi airports, saying the warning should be taken seriously and that the kingdom “bore responsibility for failed interceptions”, a day after an attack on Riyadh's international airport that killed 12 people.
The Saudi-led coalition in Yemen said late Monday that it intercepted and destroyed two ballistic missiles launched by the Houthi group toward Khamis Mushait in southwestern Saudi Arabia.
The Houthi movement has escalated their attacks on Saudi Arabia, targeting the airport in Riyadh and other cities, killing more than a dozen people.
The Kremlin on Monday rejected a 60-day ceasefire idea proposed by Ukrainian President Volodymyr Zelenskyy to allow his country to hold presidential elections, saying it wanted an overall peace deal instead.
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling to accept the energy ceasefire announced by U.S. President Donald Trump.
Climate activist Greta Thunberg joined high school students protesting outside a school in the Paris suburb of Saint-Denis on Tuesday, as a wave of student demonstrations continues across France.
North Korean leader Kim Jong Un has visited a newly opened defence museum displaying weapons developed under his leadership, including an intercontinental ballistic missile capable of reaching the United States.
Southeast Asian foreign ministers are set to discuss measures to tackle transboundary haze during preparatory meetings ahead of the ASEAN summit in November, as forest and land fires in Indonesia continue to affect air quality across the region, the Philippines said on Tuesday.
Britain's Prime Minister Andy Burnham has said the United Kingdom believes Iran was likely behind an alleged plot connected to RAF Fairford, a military airbase in Gloucestershire in England that has played a role in U.S. operations against Iran, escalating tensions between London and Tehran.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment