Another Meeting with U.S. Secretary of Commerce in Three Weeks
"Most Countries Unlikely to Avoid U.S. Mutual Tariffs"
Minister of Trade, Industry and Energy Anduk Geun reiterated a request for favorable treatment of Korea to U.S. Secretary of Commerce Gina Raimondo ahead of the mutual tariff imposition scheduled for April 2.
The meeting between the two ministers held on the 21st (local time) in Washington DC was the first follow-up meeting in three weeks since their initial talks on the 27th of last month. In this meeting as well, Minister Ahn requested favorable treatment for Korea regarding the U.S. government's tariff imposition policies, including mutual tariffs. He emphasized the need to consider the close linkage between the economies and industries of Korea and the United States.
The Ministry of Trade, Industry and Energy stated, "Both countries agreed to continue consultations on major issues, including tariff measures."
Minister Ahn said, "The Ministry is actively working to resolve the increasing uncertainties caused by the U.S. government's successive announcements of major issues and measures through high-level visits to the U.S.," adding, "We will continue to build trust with the U.S. government and respond to minimize the negative impact of U.S. tariff measures on Korea."
At a press briefing held at the Korean Embassy in the U.S. on the same day, Minister Ahn said, "Amid strong remarks from key U.S. figures regarding tariff policies, it seems difficult for most countries to avoid being subject to tariff measures," but added, "However, responding to U.S. tariff policies is not a one-time battle."
He further stated, "Since mutual tariff measures are expected to materialize from April, we will respond to trade issues with the U.S. with firm determination, prudence, and thoroughness."
The government expects that the Trump administration will announce and simultaneously implement mutual tariffs on April 2.
Meanwhile, a senior government official met with Korean media in Washington DC on the same day and regarding the successive visits to the U.S. by Minister Ahn and Jeong In-gyo, head of the Trade Negotiations Bureau at the Ministry of Trade, Industry and Energy, said, "There are still quite a few misunderstandings or incorrect information in statements coming from the U.S. side," adding, "We are continuously correcting errors and can confirm significant improvements."
For example, regarding President Trump's remark about "tariffs four times higher than those of the U.S.," the official said, "They now clearly recognize that there are virtually no tariffs on U.S. products in Korea."
Regarding the issue of non-tariff barriers, which is a consideration in the U.S. mutual tariff setting, the official explained, "The issue is being addressed domestically in a cross-ministerial manner centered on the Office for Government Policy Coordination, and we are explaining the progress. We are actively broadening the U.S. understanding of the resolved issues from the perspective of trade barriers."
On the Trump administration's tariff imposition on specific items such as automobiles and semiconductors, the official said, "We are not yet at the stage of discussing specific formulas or principles; we are consulting on the overall trade situation," adding, "Regarding automobiles and similar sectors, we think there will be room for consultation once implementation begins."
Regarding U.S. Treasury Secretary Janet Yellen's so-called "Dirty 15" countries remark, the official said, "Tariff-related matters are handled by the Department of Commerce." Secretary Yellen recently hinted that 15 countries might face relatively high tariffs but did not specify which countries.
It was reported that issues such as U.S. controls on semiconductor exports circumventing China were not discussed during the meeting between Minister Ahn and Secretary Raimondo.
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