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Trade minister to visit Washington this week for tariff negotiations

Published: 07 Apr. 2025, 16:36

This file photo taken on March 25, 2024, shows Korean Trade Minister Cheong In-kyo. [YONHAP]

Trade Minister Cheong In-kyo will visit Washington this week for tariff negotiations with U.S. administration officials, Seoul's Ministry of Trade, Industry and Energy said Monday.

Cheong is set to arrive in Washington on Tuesday and hold meetings with U.S. Trade Representative Jamieson Greer and other government officials for two days, according to the Trade Ministry.

Cheong's trip comes after U.S. President Donald Trump announced reciprocal tariffs of 25 percent for Korea last week, which will go into effect Wednesday.

The new tariffs are part of the Trump administration's broader scheme aimed at imposing reciprocal duties country-by-country to reduce U.S. trade deficits and boost its domestic manufacturing industries.

During his trip, Cheong plans to address Seoul's concerns over the new duties and seek ways to lower the tariff rate for Korea.

The minister will also work to identify the Trump administration's plans for additional levies, according to the ministry.

Washington reportedly plans to announce tariffs on semiconductor and pharmaceutical imports in the near future, following the enforcement of duties on steel, aluminum and auto imports over the past few weeks.

"We are in a severe situation where Korean companies exporting to or operating in the United States are expected to suffer difficulties due to the reciprocal tariffs announced on April 2, as well as duties on steel, aluminum, cars and auto parts," Cheong said in a press release.

"The government will put in all-out efforts in negotiations with the United States to minimize the impact of Washington's trade policies on Korean businesses and industries," he added.

Yonhap