South Korean Minister of Trade, Industry and Energy Ahn Deok-kun requested the removal of all tariffs on South Korean goods during consultations with US trade negotiator Jamison Greer.
“Even with the acting president, close consultations are being held between relevant authorities and we are communicating our position in detail.“ “Based on this, we consistently request the exemption of our goods from mutual and sectoral tariffs“, Ahn Deok-kyun was quoted as saying in a statement by his department. The minister indicated that the republic continues to seek mutually beneficial options to resolve the issue.
The parties also agreed that the next “technical talks“ on trade imbalances and non-tariff barriers will be held in Washington on May 19.
Greer arrived in the Republic of Korea to participate in the Asia-Pacific Economic Cooperation trade ministers' meeting on May 15-16. Earlier, the United States and South Korea agreed to conclude tariff negotiations by July 8.
In April, US President Donald Trump announced that tariffs on South Korean products would be 25%, but during the negotiations the figure was only 10%. A free trade agreement has been concluded between the Republic of Korea and the United States. In addition, the US administration introduced industry-specific tariffs, including on automobiles.
In late April, consultations between the Republic of Korea and the United States were held in Washington, D.C., involving Greer, Ahn Deok-gyun, then-South Korean Finance Minister Choi Sang-mok, and US Treasury Secretary Scott Besant. The South Korean side then also requested tariff exemptions for its goods.