As signs of a 'tariff war' intensify following the inauguration of U.S. President Donald Trump, Deputy Minister Park Jong-won of the Ministry of Trade, Industry and Energy is visiting the United States to coordinate trade and commerce issues.
According to the government on the 16th, Deputy Minister Park Jong-won of the Ministry of Trade, Industry and Energy plans to visit Washington, D.C., from the 17th to the 21st to meet with senior officials from the U.S. Department of Commerce and the Office of the United States Trade Representative (USTR) to exchange views on trade issues.
This will be the first official visit by a senior trade official from the government to Washington, D.C., since President Trump's inauguration.
During his visit, Deputy Minister Park is expected to learn about the practical aspects of the tariff imposition policy outlined in the recent executive order issued by the United States and to effectively communicate our position during discussions.
Since last month, shortly after his inauguration, President Trump has announced a series of policies, including a 25% tariff on imported steel and aluminum and 'tailored' reciprocal tariffs targeting countries with trade deficits. South Korea is concerned about the negative impact on its exports to the U.S.
Initially expecting no impact due to its free trade agreement (FTA) with the United States, South Korea had hoped that the reciprocal tariff imposition policy resembling 'an eye for an eye, a tooth for a tooth' would not affect it. However, the United States revealed it would consider factors like value-added taxes as non-tariff barriers in the calculation of reciprocal tariffs.
During his visit to the U.S., Deputy Minister Park is also expected to coordinate the schedule of Minister Ahn Duk-geun's visit, facilitating preparations for ministerial-level discussions.
Minister Ahn is expected to visit the United States at the end of this month, when both the nominee for Secretary of Commerce Howard Latnick and the nominee for USTR Jamieson Greer are officially in their positions, to conduct high-level negotiations.