"Rather Than Rushing Into Talks,
Negotiate at the Right Time While Monitoring Major Countries' Trends"
Choi Sang-mok, Acting President and Deputy Prime Minister as well as Minister of Strategy and Finance, met with trade experts on the 27th to discuss response measures to U.S. tariff policies.
The luncheon meeting held at the Government Seoul Office was attended by former heads of trade negotiation divisions who previously led negotiations with the U.S., including Kim Jong-hoon, Park Tae-ho, and Yoo Myung-hee, as well as former Deputy Ministers of Foreign Affairs Lim Sung-nam and Lee Tae-ho.
According to the Ministry of Strategy and Finance, the attendees evaluated that "the ultimate goals of the new U.S. administration are the revival of manufacturing, strengthening border security, and reducing defense costs," and added, "Since there are both risks and opportunities, if the direction of U.S. policies is accurately understood and responded to systematically, it may not be significantly disadvantageous."
Above all, considering the negotiation style of U.S. President Donald Trump, the Ministry reported that many opinions suggested it is preferable to engage in negotiations at the right time while observing trends in major countries such as the European Union (EU), rather than rushing into talks with the U.S.
The attendees advised, "The government should prepare a comprehensive trade package with companies for the U.S.," and added, "The package should go beyond passive responses; for example, it is necessary to consider expanding cooperation from shipbuilding to areas such as aerospace."
There was also an opinion that preparation is needed for the digital sector, which is of great interest to the U.S.
Additionally, they assessed that Korea does not appear to be included among the main target countries of recent tariff measures, and analyzed that "due to concerns about sustainability amid U.S. inflation, it seems that the U.S. has introduced country-specific reciprocal tariff measures rather than universal tariffs."
Acting President Choi said, "In a situation where the Trump administration is announcing and implementing trade policies more rapidly than in its first term, I will thoroughly prepare to navigate the 'turbulence of trade' by continuously communicating with experts who have abundant experience in trade negotiations."
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