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.
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Negotiations between China and the European Union regarding electric vehicle price commitments are in their final stages, although both sides acknowledge that further efforts are required to reach a resolution.
The United States has appointed Lieutenant General Alexus G. Grynkewich as the next Supreme Allied Commander Europe (SACEUR). This development occurs as NATO allies prepare for a summit in The Hague later this month, where they have agreed to increase defence spending to 5% of their GDP.
Azerbaijan is set to enhance its air combat capabilities with a $4.2 billion deal for 40 advanced JF-17C Block III fighter jets from Pakistan. The purchase marks one of the largest defense acquisitions in the region.
Ukraine's Air Force announced Saturday morning that it had shot down a Russian Su-35 fighter jet during a successful operation in the Kursk direction.
Negotiations between China and the European Union regarding electric vehicle price commitments are in their final stages, although both sides acknowledge that further efforts are required to reach a resolution.
The United States has appointed Lieutenant General Alexus G. Grynkewich as the next Supreme Allied Commander Europe (SACEUR). This development occurs as NATO allies prepare for a summit in The Hague later this month, where they have agreed to increase defence spending to 5% of their GDP.
Azerbaijan is set to enhance its air combat capabilities with a $4.2 billion deal for 40 advanced JF-17C Block III fighter jets from Pakistan. The purchase marks one of the largest defense acquisitions in the region.
Ukraine's Air Force announced Saturday morning that it had shot down a Russian Su-35 fighter jet during a successful operation in the Kursk direction.
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