South Korea Urges US to Lift Extra Tariffs
(MENAFN) On Friday, South Korea again urged the administration of US Leader Donald Trump to lift the extra tariffs imposed on the country.
Seoul has been advocating for either a reduction or a full exemption from the 25 percent reciprocal tariff, which has been temporarily suspended with a base 10 percent duty for 90 days, among other tariffs.
Ahn Duk-geun, South Korea's Industry Minister, met with US Trade Representative Jamieson Greer in Seoul during the Asia-Pacific Economic Cooperation (APEC) trade ministers' meeting, according to a news agency from Seoul.
"In Friday's meeting, we sought to highlight that South Korea has a bilateral free trade agreement (FTA) with the US, unlike some other nations, and has increased trade and investment with the US under the FTA," Ahn stated, noting that Seoul has "also emphasized that US tariffs on automobile and steel imports significantly affect trade relations between the two nations."
The two parties will hold the second round of technical talks on six trade issues in Washington, which could be followed by further high-level discussions in mid-June, Ahn confirmed.
These six areas cover trade imbalances, non-tariff barriers, economic security, product origin, and commercial issues.
South Korea held senior-level talks in Washington last month, where it was agreed that a "package" agreement on tariffs and economic cooperation would be pursued by July 8.
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