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Gov't holds meeting with exporters to share outcome of trade talks with U.S.

Published: 29 Apr. 2025, 14:29

Representatives of the Korean and U.S. governments begin the two countries' trade negotiations on April 24 in Washington. From left: Trade Minister Ahn Duk-geun, Deputy Prime Minister and Finance Minister Choi Sang-mok, U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. [MINISTRY OF ECONOMY AND FINANCE]

Korea's Industry Ministry on Tuesday held a meeting with domestic exporters to share the results of last week's high-level trade talks with the United States and to gather industry feedback.

The meeting, co-hosted by the Korea International Trade Association, brought together executives from 15 major companies in shipbuilding, aerospace, defense, nuclear power, batteries and other strategic sectors most likely to be affected by Washington's escalating tariff measures, according to the Ministry of Trade, Industry and Energy.

The session was aimed at assessing the impact of the latest U.S. trade and tariff policies on key industries and discussing ways to enhance bilateral industrial cooperation, the ministry said.

During last week's talks in Washington, Seoul and Washington agreed to craft a "package" deal on new U.S. tariffs and economic and industrial cooperation by early July.

At Tuesday's meeting, company officials urged the government to actively engage in tariff negotiations to prevent Korean exporters from losing ground to global competitors due to comparatively higher U.S. tariffs.

They also called for long-term policy support, including expanded industrial cooperation with the United States, increased investment in research and development (R&D), and enhanced tax incentives, the ministry said.

Yonhap