Six Key Issues: Balanced Trade, Non-Tariff Measures, Economic Security, Digital Trade, Rules of Origin, and Commercial Considerations
The ongoing "July Package" tariff negotiations between South Korea and the United States have been specified into six key trade issues. The two sides are scheduled to hold a second round of technical consultations next week, which will mark the start of full-fledged working-level discussions.
On May 16, Minister of Trade, Industry and Energy Ahn Dukgeun held a press briefing in Jeju, where he shared details of his bilateral meeting with Jamieson Greer, the representative of the United States Trade Representative (USTR).
This round of consultations follows the director-general level technical talks held in Washington, D.C. on May 1. Both sides have now detailed the negotiation schedule with the aim of reaching an agreement on the "July Package." The six areas under discussion are: balanced trade, non-tariff measures, economic security, digital trade, rules of origin, and commercial considerations.
Minister Ahn stated, "For the second round of technical consultations, a delegation will be formed with the Ministry of Trade, Industry and Energy and related ministries, and we plan to visit the United States. We are preparing concrete positions through inter-ministerial consultations, and based on this, we continue to request a complete exemption of mutual tariffs and tariffs by item."
The government plans to focus the negotiations on finding a balanced solution in response to U.S. measures concerning major export items such as automobiles, steel, and semiconductors. With about 50 days remaining until the de facto consultation deadline set by the United States in early July, discussions are expected to proceed at a rapid pace.
Minister Ahn added, "We are actively gathering opinions from industry and stakeholders, and the negotiation process will be shared transparently with the National Assembly and the public."
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