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Korean, U.S. trade chiefs to hold talks over tariff-related package deal

Published: 16 May. 2025, 12:50 Updated: 18 May. 2025, 18:08

Korea's Industry Minister Ahn Duk-geun, right, and U.S. Trade Representative Jamieson Greer pose for a photo during their meeting in Washington on April 24. [YONHAP]

Korea's trade chief Ahn Duk-geun was set to hold talks with U.S. Trade Representative (USTR) Jamieson Greer on Friday on the sidelines of a trade ministers' meeting of the Asia-Pacific Economic Cooperation (APEC) member economies, officials said.

The meeting to be held on Korea's southern island of Jeju comes about three weeks after their last gathering in Washington for high-level trade consultations, where the two sides agreed to pursue a "package" deal on U.S. tariffs and economic cooperation issues by July 8.

Greer is participating in the APEC Ministers Responsible for Trade meeting on Jeju, slated to wrap up its two-day run later in the day.

In the upcoming meeting, Ahn is expected to discuss follow-up measures to the Washington agreement, hoping to develop a more detailed framework for further trade negotiations with U.S. President Donald Trump's administration.

Last month, Seoul and Washington agreed to focus their talks on four categories — tariff and nontariff measures, economic security, investment cooperation and currency policies.

Korea has been seeking a reduction or exemption from U.S. tariffs, including 25 percent reciprocal duties, which have been suspended for 90 days.

On Thursday, Greer also sat down with Korean Trade Minister Cheong In-kyo to discuss pending trade issues between the two sides and the progress of Washington's trade negotiations with other countries, according to Cheong's office.

Earlier in the day, Greer met with executives of HD Hyundai Heavy Industries in Jeju to discuss bilateral cooperation in shipbuilding.

Shipbuilding cooperation is one of the key agenda items of the Seoul-Washington trade negotiations amid the Trump administration's push to rebuild the U.S. shipbuilding sector. Korea is a global leader in the shipbuilding industry.

Last month, U.S. Secretary of the Navy John Phelan visited Korea to tour HD Hyundai Heavy Industries' Ulsan headquarters and Hanwha Ocean's Geoje shipyard.

In an exclusive written interview with Yonhap News Agency following his trip, Phelan said the U.S. Navy welcomes further collaboration with Korean shipyards as part of a broader effort to revitalize America's maritime industrial base.

Yonhap