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Industry minister to visit U.S. this week to discuss Trump tariffs

Published: 25 Feb. 2025, 19:02

Industry Minister Ahn Duk-geun speaks during an event in Seoul on Jan. 14. [MINISTRY OF TRADE, INDUSTRY AND ENERGY]

Industry Minister Ahn Duk-geun will visit Washington this week for discussions on new U.S. tariff plans, Ahn's office said Tuesday, amid mounting concerns the new tariff scheme may adversely affect Korea's major industries and export-dependent economy.

Ahn will embark on a three-day trip on Wednesday to meet with Secretary of Commerce Howard Lutnick and other U.S. government officials, according to the Ministry of Trade, Industry and Energy.

The minister will call on the U.S. administration to exempt Korea from its planned 25 percent tariffs on steel and aluminum imports, as well as a plan to impose "reciprocal" tariffs on other nations, according to the ministry.

He also plans to discuss ways to bolster bilateral cooperation across various fields, including shipbuilding and energy.

Ahn will also meet with U.S. lawmakers to call for efforts to create a "consistent" environment for Korean companies' investments there, the ministry said.

Korean businesses are said to have made a combined $150 billion of investments in the United States since the start of the first Trump administration, according to earlier reports.

"The government will commence ministerial talks on industry and trade between Korea and the United States for the first time since the launch of the [second] Trump administration through the upcoming visit," Ahn said in a press release.

"Korea and the United States are ideal partners in that they have infinite potential to cooperate in various fields, including shipbuilding, nuclear power plants and energy," he added.