South Korea's Trade Deputy Visits US to Address Trump Tariffs
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Synopsis
South Korea's deputy trade minister is in Washington to discuss new tariffs and trade policies under President Trump, marking his first official visit since Trump's second term began. The discussions will focus on potential impacts on key South Korean industries and the need for consistent trade policies.
Key Takeaways
- Deputy Minister Park Jong-won is visiting Washington.
- Focus on new U.S. tariffs and trade policies.
- Concerns for South Korean industries like steel and automotive.
- Trade surplus with the U.S. reached $55.7 billion in 2024.
- Upcoming visit by Industry Minister Ahn Duk-geun planned.
Seoul, Feb 17 (NationPress) South Korea's deputy trade minister has departed for Washington on Monday to engage in discussions regarding the new US tariffs and associated trade policies under President Donald Trump, as reported by his office.
Deputy Minister of Trade Park Jong-won is scheduled to meet with officials from the U.S. Department of Commerce and the U.S. Trade Representative (USTR), in addition to important figures in the U.S. Congress during his five-day visit to Washington, according to the Ministry of Trade, Industry and Energy.
Park represents the first senior trade official from South Korea to conduct an official visit to the United States since Trump initiated his second term last month, as noted by Yonhap news agency.
This visit occurs amidst the U.S. plan to implement 25 percent tariffs on all steel and aluminum imports, alongside reciprocal tariffs on its trading partners, which includes South Korea.
This development has heightened concerns in Seoul that its critical industries, such as steel, automotive, home appliances, and semiconductors, may face severe repercussions.
Park communicated with Yonhap News Agency via telephone, expressing his intention to clarify the specifics of the Trump administration's plans for new tariffs and address Seoul's apprehensions during his visit.
"The ministry will exert all-out efforts to safeguard the interests of South Korean companies amidst the rising uncertainties triggered by the recent trade-related announcements from the U.S. government," stated Park, also advocating for consistent trade policies from the U.S.
In 2024, South Korea's trade surplus with the U.S. reached US$55.7 billion.
Last year, the country was also the fourth-largest exporter of steel and aluminum products to the U.S., according to statistics from the U.S. International Trade Administration.
A business delegation, steered by SK Group Chairman Chey Tae-won, is also set to visit the U.S. this week to discuss bilateral economic cooperation and strategies to alleviate the potential impact of U.S. tariffs with political and business leaders.
During his time in Washington, Park is also expected to outline details for Industry Minister Ahn Duk-geun's upcoming visit to the U.S. later this month, contingent upon the confirmations of U.S. Commerce Secretary nominee Howard Lutnick and USTR nominee Jamieson Greer.
Ahn had previously visited Washington early last month, prior to Trump's inauguration, to discuss bilateral economic cooperation with U.S. Congress officials.
