South Korea tries to free itself from tariffs of Trump administration
South Korea is concerned about the US intentions to impose tariffs on metals (photo: Getty Images)
The South Korean government held talks with representatives of the administration of US President Donald Trump. Seoul is requesting the removal of tariffs on steel and aluminum for its industry, reports Reuters.
This week, South Korea’s Minister of Trade, Industry and Energy, Ahn Duk-geun, met in Washington with several senior US officials, including Secretary of Commerce Howard Lutnick, Secretary of the Interior Doug Burgum, and US Trade Representative Jamieson Greer.
The purpose of the meeting was to negotiate the removal of tariffs imposed by the administration of US President Donald Trump and to discuss ways to strengthen bilateral cooperation between the two countries.
"Minister Ahn discussed strengthening partnerships in strategic industries such as shipbuilding and advanced industries with commerce secretary Lutnick. At the same time, he conveyed South Korean companies' concerns regarding the U.S. government's tariff measures and requested tariff exemptions," the Ministry of Trade, Industry, and Energy of South Korea said in a statement.
South Korea and the US also agreed to establish a working-level channel to discuss tariff-related issues and cooperation in the shipbuilding sector.
Ahn's meeting with Lutnick marked the first ministerial-level trade talks between the two countries during President Trump's second term. The negotiations took place amid a diplomatic vacuum, as President Yoon Suk Yeol, who had been impeached, was temporarily suspended from duties following his brief imposition of martial law.
Earlier in the week, Ahn visited Washington, D.C., to push for the removal of US tariffs on steel and to discuss cooperation in energy and shipbuilding sectors.
The trip occurred less than a week after Deputy Minister of Trade Park Jong-won led the first major South Korean government delegation to Washington since Trump took office, urging his administration to exempt Seoul from tariffs on steel and aluminum.
Unfavorable tariffs and a threat to the economy
As a major global exporter and key trading partner of the United States, South Korea views the measures taken by the Trump administration with growing concern.
The fourth-largest economy in Asia is among the 20 countries that have comprehensive free trade agreements with the US In the Asia-Pacific region, these include Australia and Singapore, while Japan has an agreement focused on critical minerals.
Although the US-South Korea Free Trade Agreement allows for tariff-free trade of most goods, in February, Trump announced plans to impose 25% tariffs on steel and aluminum for all countries, including South Korea. The new tariffs are set to take effect in March, while President Trump also announced reciprocal tariffs on trading partners starting in April.
On a video call on Friday, Acting President and Finance Minister of South Korea Choi Sang-mok urged US Treasury Secretary Scott Bessent to consider South Korea's contribution to the US economy when shaping Washington's policy.
Tariff war of the US
In early February, the administration of US President Donald Trump announced plans to impose a 25% tariff on imports from Canada and Mexico, as well as a 10% tariff on goods from China.
Initially, the new tariffs were set to take effect on February 4, but after negotiations with Canada and Mexico, the White House postponed their implementation until March 1. However, no official delay was announced for the tariffs on China.
Recently, Trump announced plans to introduce a 25% tariff against the European Union. In his view, the 27-country bloc was created to rob the US.
At the same time, the US president did not rule out that the UK could avoid the tariffs planned for the EU.
