Yeo Han-koo, head of the Ministry of Trade, Industry and Energy's trade negotiations office, met with U.S. Secretary of Commerce Howard Lutnick on the 7th (local time) in Washington, D.C., to discuss cooperation measures to resolve U.S. tariff actions, the ministry announced on the 8th.
The meeting between Deputy Minister Yeo and Secretary Lutnick took place shortly after President Donald Trump released a letter on tariffs sent to major countries. In the letter, President Trump stated that a reciprocal tariff of 25% would be imposed on Korea starting August 1.
According to the ministry, Deputy Minister Yeo emphasized the Korea-U.S. alliance during the meeting, highlighting that Korea is the optimal partner for the U.S. manufacturing revival. He noted that "Korea-U.S. manufacturing cooperation is an effective means to achieve a balanced expansion of trade," persuading Secretary Lutnick that it is a reasonable way to offset U.S. tariff actions through mutual win-win.
He also called for the abolition of item-specific tariffs applied to automobiles and steel, emphasizing that item-specific tariffs must be included in the final tariff agreement.
Deputy Minister Yeo said, "We have secured about three weeks of time as a new grace period until August 1, but the time is not ample," and added, "It is time to accelerate negotiations in earnest to find the landing zone." He continued, "We will do our utmost to produce results that benefit both countries while refining the Korea-U.S. manufacturing cooperation plan."
Deputy Minister Yeo plans to hold additional discussions with Secretary Lutnick in Washington, D.C., on the 9th, according to the ministry.