South Korea is preparing trade concessions to ease tensions with Washington, as U.S. President Donald Trump’s sweeping tariffs send shockwaves through global supply chains.
Trade Minister Cheong In-kyo departed for Washington on Tuesday, where he will meet U.S. Trade Representative Jamieson Greer to push back against the new 25% tariff imposed on South Korean exports.
“It is difficult to reduce exports, so shouldn’t we increase imports?” Cheong told reporters before his flight. He confirmed that Seoul is reviewing several options — including expanding U.S. LNG purchases — to rebalance trade flows.
The move follows Trump’s remarks that the door remains open for negotiations — except with China, which now faces a 54% duty.
South Korea has been seeking to shield its export-driven economy, warning that tariffs on both Korean goods and Vietnam-made products from firms like Samsung and LG could cause serious damage.
Finance Minister Choi Sang-mok said the 25% rate is a “huge blow” to South Korean exporters with production in Vietnam, where a separate 46% tariff now applies.
Cheong also questioned the U.S. calculations used to justify the tariff, calling them “problematic” given the existing South Korea-U.S. free trade agreement.
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