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Trade minister says Korea communicating with U.S. on tariff measures

Published: 20 Feb. 2025, 09:56 Updated: 20 Feb. 2025, 16:35

Korean Trade Minister Cheong In-kyo speaks at a meeting with local industries on the U.S. administration's trade policies in Seoul on Feb. 11. [YONHAP]

The Korean government has been communicating with the United States on the latter's plan to impose new tariffs as part of efforts to reduce uncertainty for domestic industries, Seoul's trade minister said Thursday.

Trade Minister Cheong In-kyo made the remarks in a meeting with the heads of major local think tanks held to discuss Seoul's strategy on the protectionist trade policies of U.S. President Donald Trump, according to his office.

The meeting was attended by the chiefs of nine research institutes, including those under Samsung Group, Hyundai Motor Group, Posco Group and LG Group.

Thursday's meeting came amid mounting concerns over the U.S. government's plan to levy tariffs on various goods from other countries, including steel, aluminum and automobiles, as well as reciprocal tariffs on the U.S.' key trading partners.

"We are operating our channel with the U.S. to respond to the realization of various U.S. trade measures and help local industries overcome uncertainty," Cheong said, calling for stronger cooperation between the government and think tanks to devise a response strategy.

Korea's Deputy Trade Minister Park Jong-won is currently visiting Washington to meet with U.S. government officials and discuss Trump's trade policies and their effect on Korean industries.

Yonhap