Industry Ministry asks Trump to kill tariffs on Korean imports

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Industry Ministry asks Trump to kill tariffs on Korean imports

Published: 26 May. 2025, 16:39 Updated: 26 May. 2025, 20:35

SARAH CHEA
[email protected]

Audio report: written by reporters, read by AI

Minister of Trade, Industry and Energy Ahn Duk-geun, right, shakes hands with U.S. Trade Rep. Jamieson Greer at the International Convention Center in Jeju on May 16. [MINISTRY OF TRADE, INDUSTRY AND ENERGY]

Korea has asked the United States to fully dismantle its tariffs imposed on Korean imports, including the 25 percent auto tariffs, under the framework of the FTA in the second round of three-day trade talks in Washington.

The government also announced that the third round of talks, expected to be substantive and detailed, is scheduled to take place within June, following the launch of the new Korean administration after the June 3 presidential election.

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“We have strongly asserted that Korea must be treated differently and preferentially on the grounds of having an FTA,” said an official from the Ministry of Trade, Industry and Energy who was a member of the delegation during a briefing Monday on the results of the talk. “Korea is the only country among the 17 with which the United States has been conducting technical consultations after identifying them as having the largest trade imbalances from the perspective of the U.S. trade landscape.”

The trade talk, which ran from May 20 to 22, took place as part of a joint agreement between the two countries to negotiate and formulate a “July package” agreement before July 8 when Trump's 90-day suspension of reciprocal tariffs ends.

The latest discussions centered on six areas, including balanced trade, nontariff measures, economic security, digital trade, rules of origin and commercial considerations. The ministry did not disclose further details.

“Korea has consistently conveyed its position that exemptions should apply not only to reciprocal tariffs, but also to sectoral tariffs currently in effect on items such as automobiles and steel, as well as any additional tariffs that may be introduced in the future like semiconductors,” the official said.

“In both working-level technical consultations and high-level ministerial meetings, Seoul has also emphasized that Korean investment in the United States plays a vital role in revitalizing American manufacturing and strengthening industrial supply chains,” he added. “The government has frequently cited major investment cases, including Hyundai Motor Group’s massive investment announcement, and the U.S. side has taken positive note of these contributions.”

BY SARAH CHEA [[email protected]]