South Korea has requested an exemption from the U.S.'s new tariff plans, the Industry Ministry said Saturday.
Last month, U.S. President Donald Trump announced 25% tariffs on steel and aluminum imports, set to take effect on March 12. During a meeting with U.S. Commerce Secretary Howard Lutnick, South Korean Industry Minister Ahn Duk-geun expressed concerns over the tariffs and urged for an exemption, Yonhap News Agency reported.
“South Korea will work to earn the best results from systematic and earnest negotiations with the US on new industry, trade and energy policies based on our experience of successfully responding to the US CHIPS Act and Inflation Reduction Act in the past," Ahn said in a press release, according to the news outlet.
They also discussed strengthening ties in shipbuilding and advanced industries. The U.S. remains a key trade partner for South Korea, which had a $66 billion trade surplus with Washington last year.
Read next
06:10
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.
23:00
North Korea
South Korean media, citing the National Intelligence Service (NIS), reported on Thursday that North Korea has sent additional troops to Russia.
13:37
South Korea’s birthrate has seen its first increase in nearly a decade, a positive sign amid the country’s demographic crisis. The rise, attributed to a boost in marriages and new government policies, brings hope for reversing South Korea’s declining birth rate.
01:00
Cheonan, South Korea
Sections of an elevated highway under construction collapsed on Tuesday in Cheonan, South Korea.
08:17
South Korean President Yoon Suk Yeol will give a closing statement on Tuesday in a Constitutional Court trial reviewing his impeachment for declaring martial law. If upheld, he could be removed from office less than three years into his term, with a new election required within 60 days.
What is your opinion on this topic?
Leave the first comment