South Korean trade representative sets off for US visit to focus on steel and auto tariffs

A South Korean trade delegation left for the United States on Tuesday to focus on coordinating steel and auto tariffs.

South Korean Trade Minister Chung In-kyo said in an interview with reporters at Incheon Airport that steel, automobiles and semiconductors are the main export products of South Korea, and this trip will certainly discuss the tariff issue with the United States.

Chung will travel to Washington for meetings with U.S. Trade Representative Greg Greer and other officials. This will be the first visit by a senior South Korean government official to the United States since US President Donald Trump announced "reciprocal tariffs" on all trading partners. Chung will also be aware of the trend in areas such as semiconductors that have not yet been specifically listed for taxation.

Mr. Chung said that while Mr. Trump would not suspend or lower tariffs on China, he said he could adjust tariffs on other countries through negotiations. He will actively negotiate with the U.S. Department of Commerce and the Office of the U.S. Trade Representative to ensure that South Korea is treated no less favorably than other countries.

According to the reciprocal tariff list released by Trump on April 2, the United States will impose a tariff rate of 25 percent on South Korea.

Chung said that in order to reduce the US tariff rate, we have to reduce the trade surplus with the United States. The Korean government has been considering various ways to solve this problem, based on the fact that exports cannot be reduced and imports must increase. He said that although the United States has so far not explicitly mentioned revising the Korea-US free trade agreement, the government is preparing for a variety of possible options.