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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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 5th of February, covering the latest developments you need to know.
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At least 31 killed, scores wounded in suicide attack on religious site in Islamabad.
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Storm Leonardo hit Spain and Portugal on Tuesday, forcing more than 11,000 people from their homes, after a man in Portugal died when his car was swept away by floodwaters and a second body was found in Malaga.
Escalating clashes in South Kivu’s highlands are sending a rising flow of wounded to Fizi’s small general hospital, where staff warn they are running out of space and supplies as the conflict expands across remote areas.
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