Synopsis
On April 12, South Korea's Trade Minister Cheong In-kyo announced the US's willingness to manage tariff discussions with South Korea and Japan effectively. This was a key takeaway from his visit to Washington, where negotiations were discussed amid rising tensions over reciprocal tariffs.Key Takeaways
- The US aims for smooth tariff negotiations with South Korea and Japan.
- Trade Minister Cheong In-kyo highlighted notable discussions in Washington.
- A framework for item-by-item tariff negotiations was established.
- Key focus on steel and automobile sectors.
- US President Trump has paused reciprocal tariffs for 90 days.
Seoul, April 12 (NationPress) The United States has shown readiness to navigate the tariff negotiations with South Korea and Japan as seamlessly as possible, according to Seoul's Trade Minister Cheong In-kyo, who characterized this openness as a significant outcome of his recent trip to Washington.
"We engaged in multiple discussions aimed at ensuring smooth trade relations with the Trump administration," Cheong informed reporters at Incheon International Airport upon his return from a two-day trip to Washington, as reported by Yonhap news agency.
This visit was the first by a high-ranking South Korean trade official since the Donald Trump administration announced reciprocal tariffs on a country-by-country basis, which included a 25 percent duty for South Korea, effective this week.
While in Washington, Cheong conferred with U.S. Trade Representative Jamieson Greer and other prominent officials to address the tariff matter.
"The primary success of this visit was the establishment of a framework for negotiations on a case-by-case basis, especially regarding steel and automobiles," Cheong remarked, noting that Washington indicated a readiness to achieve a deal with both Seoul and Tokyo in a friendly manner.
He also highlighted the necessity of identifying the correct U.S. agency as Seoul's main negotiation counterpart.
"Determining which U.S. agency would serve as our dialogue partner was essential," he added, indicating that Greer would primarily guide the negotiations on behalf of Washington.
Cheong emphasized that he effectively communicated South Korea's perspective on the matter of reciprocal tariffs.
"Greer was attentive to our position and shared the U.S. viewpoint and expectations regarding South Korea," he elaborated, describing the nature of their discussions.
U.S. President Donald Trump has implemented a 90-day pause on reciprocal tariffs, stating that negotiations with nations requesting meetings over tariff issues would commence "immediately." Concurrently, he cautioned China against retaliatory actions, raising tariffs against China to 125 percent.
In response, China has declared plans to increase tariffs on all U.S. goods from 84 percent to as high as 125 percent starting Saturday.
