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Senior Korean trade official angles for 'mutually beneficial' path during Trump's tariff pressure

Published: 18 Feb. 2025, 09:48

Deputy Minister for Trade Park Jong-won arrives at Dulles International Airport near Washington on Feb. 17. [YONHAP]

A senior Korean trade official said Monday he will seek to have "mutual beneficial" discussions during his planned talks with U.S. officials in Washington, amid concerns over the potential impact of President Donald Trump's tariff policy on the Asian country.

Deputy Minister for Trade Park Jong-won made the remarks as he plans to meet senior officials at the U.S. Department of Commerce and the Office of the U.S. Trade Representative, as well as other relevant officials to discuss the tariff issue.

Trump has announced a plan to impose 25 percent tariffs on all steel and aluminum imports, starting March 12, while his administration is pushing to roll out country-specific "reciprocal" tariffs on U.S. imports. He also plans to unveil auto tariffs on April 2 while weighing possible duties on chips and pharmaceuticals.

"By listening well to what the U.S. has to say and explaining our position and view well, [I] will try to have discussions that are mutually beneficial for both countries," Park told reporters upon arrival at Dulles International Airport near Washington.

Park noted that discussions on the tariff issue may continue following his visit this week.

"I think more opportunities may arise sooner or later for consultations involving other high-level figures," he said.

His remarks raised the possibility that Industry Minister Ahn Duk-geun could visit the United States for higher-level talks with the Trump administration as part of efforts to minimize the potential ramifications of planned or proposed U.S. tariffs on South Korean businesses.

The Deputy Minister refused to elaborate on what he would discuss with U.S. officials, but described the United States as Korea's "most important" partner for economic cooperation — a remark that underscored Seoul's focus on maintaining close economic ties with the Trump administration.

Asked if he expected that the Trump administration would take into account nontariff barriers in its calculation of proposed reciprocal tariffs, Park said it was already in "America First" trade policy unveiled soon after Trump's inauguration last month — an indication that Seoul has been preparing for Trump's tariff policy.

Washington is expected to announce reciprocal tariff rates on a country-by-country basis after a study on the new tariffs is complete by April 1.

It marks the first time that a senior Seoul official has visited the U.S. capital since the Trump administration announced its tariff imposition plans.

Trump's tariff-related announcements have been keenly watched by policymakers in Seoul amid concerns that Asia's fourth-largest economy could be put into his administration's crosshairs given that Korea's trade surplus with the United States reached $55.7 billion last year.

The U.S. president has been using tariffs as a key tool to shrink America's trade deficit, boost domestic manufacturing and achieve other policy goals, including preventing the inflow of unauthorized migrants and drugs.