- The US shows strong interest in Korea’s chip and shipbuilding ties.
- Korea pushes for tariff relief before the August 1 deadline.
- Talks hint at broader trade and defense cooperation.
During recent trade discussions, Korea's chief trade negotiator stated that the United States expressed interest in Korea's proposal for manufacturing collaboration, especially in the semiconductor and shipbuilding industries.
Trade Minister Yeo Han-koo shared details with reporters about his visit to Washington, during which he engaged in tariff discussions with U.S. Commerce Secretary Howard Lutnick, U.S. Trade Representative Jamieson Greer, and several U.S. Congress members.
His trip occurred as Korea approaches the last three weeks of active trade talks, following the Trump administration's announcement of 25 percent reciprocal tariffs on Korean goods starting Aug. 1.
In two meetings with Secretary Lutnick, Yeo highlighted Seoul's dedication to strengthening manufacturing connections and encouraged the Trump administration to provide “preferential treatment” to Korean companies regarding tariffs on imported cars, steel, and other items, as stated by his office.
“The U.S. side was very interested in bilateral collaboration in the areas of shipbuilding and semiconductors, as they are crucial sectors in terms of industrial competitiveness and national security, and in how Korean companies can contribute to Washington's goal of rebuilding its manufacturing sector," Yeo told reporters upon his arrival at Incheon International Airport, west of Seoul.
Yeo mentioned that his trip aimed to expedite trade discussions to achieve “a landing zone" in three weeks, adding that he intends to return to Washington for more negotiations before August
"The Trump administration is very committed to structurally reducing Washington's trade deficits ... through negotiations on tariff and non-tariff issues with its trading partners,” Yeo said.
"We now have a broad picture of what the US wants, so it is time for us to make a strategic decision on what kind of regulatory improvements we can realistically pursue, while also defending domestically sensitive issues," he added.
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The Trump administration is recognized for seeking increased access to the Korean market for agriculture, automotive, digital, and service industries during recent trade discussions between the two countries.
Earlier this year, the USTR released a report on foreign trade barriers that highlighted several non-tariff trade measures from Seoul, such as its ban on importing American beef from cattle over 30 months old, regulations on imported cars related to emissions, suggested regulations for online platforms, and limitations on the export of location-based data.
Concerning Korea's possible involvement in the Alaska liquefied natural gas initiative, Yeo mentioned that he met with Dan Sullivan, an Alaskan U.S. senator, and decided to keep the talks ongoing, emphasizing that the U.S. "strongly" desires Seoul's involvement.
When asked if Korea and the U.S. would pursue a comprehensive agreement including trade and defense matters, he indicated merely that it might be considered within a larger framework eventually. KoreaTimes