The Ministry of Trade, Industry and Energy announced on the 21st that Deputy Minister Park Jong-won proposed discussions on expanding Korea-U.S. cooperation through high-level consultations with U.S. trade authorities. Deputy Minister Park also requested the elimination of mutual tariffs with the United States.
According to the Ministry of Trade, Industry and Energy, Deputy Minister Park visited Washington, D.C., from the 17th to the 20th (local time) to meet with government officials from the White House, the Department of Commerce, and the Office of the United States Trade Representative (USTR), as well as congressional members and think tank experts.
He explained the close economic relationship between Korea and the U.S. and emphasized that our corporations have made significant contributions to the U.S. economy through large-scale investments. He also highlighted that tariffs on nearly all items between the two countries have already been eliminated under the FTA, and requested that Korea be excluded from mutual tariffs and other tariff measures, including those on steel and aluminum.
During meetings with key figures in the U.S. Congress, he urged them to continue creating a favorable environment for our corporations through subsidies related to the Inflation Reduction Act (IRA) and the Chips Act.
In the future, the government plans to continuously hold high-level consultations regarding U.S. trade and economic measures while responding to minimize damage to our corporations through close communication with the industry.