Jeong In-kyo, the Deputy Minister of Trade, Industry and Energy, noted, "Steel, automobiles, and semiconductors are our country's main export items" and stated, "During the visit to the U.S., we will definitely discuss the 25% tariff issue on steel and automobiles."
Deputy Minister Jeong departed on the 8th for a meeting with Jamieson Greer, the U.S. Trade Representative (USTR), in Washington, D.C., and made these comments. He plans to request a reduction of the 25% reciprocal tariff imposed on South Korea during this trip to the U.S.
He explained, "I have previously expressed regret, and I will convey to the U.S. side that maintaining such a high tariff rate even 12 years after the Korea-U.S. Free Trade Agreement (FTA) went into effect is problematic."
This visit to the U.S. is the first high-level response from South Korea following U.S. President Donald Trump's announcement on the 3rd (local time) regarding the imposition of reciprocal tariffs against the world.
Deputy Minister Jeong said, "President Donald Trump dismissed the possibility of tariff reductions or delays regarding China, but mentioned that negotiations could lead to delays or reductions with other countries," adding, "We see this as a positive signal."
He continued, "I will meet with officials from the U.S. Department of Commerce and the USTR to seriously discuss various tariff measures, including reciprocal tariffs," emphasizing, "We will actively negotiate to ensure that South Korea does not receive unfavorable treatment compared to other countries."
In response to a question about the possibility of discussing the import issue of liquefied natural gas (LNG) from Alaska during the negotiations, he avoided a direct answer. He stated, "South Korea is one of the largest importers of LNG in the world" and explained, "Internally, there have been ongoing discussions about expanding imports of U.S. LNG from an energy security perspective."
He also added, "To reduce the trade surplus with the U.S., it is necessary to expand imports from the U.S.," stating, "We have been reviewing various package solutions to address the trade imbalance."
In response to concerns that the 'vacuum of the national trade control tower' might be a problem during the negotiations with the U.S., he replied, "Acting Prime Minister Han Duck-soo is well-versed in trade policy and provides clear guidance on trade issues with the U.S. whenever there is an opportunity."
Deputy Minister Jeong emphasized, "There are few countries that maintain as close a relationship with the U.S. Department of Commerce and the USTR as South Korea does."
Regarding the possibility of renegotiating the Korea-U.S. Free Trade Agreement (FTA), he noted, "As of now, the U.S. side has not officially mentioned the revision of the Korea-U.S. FTA," adding, "Regardless of what situation unfolds in the future, we will respond actively to maximize our national interests."