The Presidential Office announced on the 25th that the 'trade negotiation package' with the United States also includes the agricultural sector. The government has consistently set 'expansion of U.S. rice imports' and 'import of U.S. beef over 30 months old' as 'red lines', considering the impact on our farmers. Although specific items such as rice and beef were not mentioned, it is the first time the Presidential Office has made an official statement indicating that it will also make a strategic judgment regarding agricultural products.
The Presidential Office held a trade countermeasure meeting to focus on the progress of the Korea-U.S. trade negotiations and future response measures. Attendees at the meeting included Kang Hoon, Chief of Staff of the Presidential Office, Kim Yong-beom, Director of Policy, Wi Seong-lak, Director of National Security, Gu Yoon-chul, Deputy Prime Minister for Economy, and Yoon Chang-ryul, Minister of the Office for Government Policy Coordination.
After the meeting, Kim noted in a briefing from the Presidential Office that on July 24, Minister of Trade, Industry and Energy Kim Jeong-kwan and Chief Negotiator Yeo Han-koo met with U.S. Secretary of Commerce Howard Lutnick to discuss in depth the tariff negotiation settlement methods, including ways to strengthen manufacturing cooperation.
It was officially announced that the negotiation package specifically includes agricultural products. It is noteworthy that the Presidential Office has confirmed for the first time that agricultural products are part of the trade negotiation items with the United States. Kim stated, 'The Chief Negotiator is continuing negotiations with U.S. Trade Representative (USTR) Greer,' adding, 'Agricultural products are also included in the negotiation items.'
He added, 'Both sides reaffirmed the importance of mutual cooperation in strategic manufacturing sectors, including shipbuilding and semiconductors, and agreed to specify cooperation methods going forward.' He also confirmed the determination to reach a mutually beneficial settlement before August 1. The date is the deadline for the reciprocal tariff (25%) that President Donald Trump announced. The government is attempting a 'package deal' involving investment, purchasing, and security to agree on a tariff reduction before then.
◇ Emphasizing manufacturing cooperation, persuading tariff reductions for specific items like automobiles
Our government is actively requesting tariff reductions for specific items, including automobiles, while emphasizing 'the importance of manufacturing cooperation between the two countries' during the negotiations with the United States. Currently, Minister of Trade, Industry and Energy Kim Jeong-kwan and Chief Negotiator Yeo Han-koo are staying in the U.S. and are scheduled to meet with U.S. Trade Representative Jamieson Greer and Secretary of Commerce Howard Lutnick for additional discussions on the 25th (local time).
The Presidential Office's announcement of 'including agricultural products' came after Japan lowered tariffs to 15% on the condition of 'opening the rice market' and 'investing $55 billion in the U.S.' Minister Kim stated, 'Through close consultations with the local negotiation team, I will do my best to derive negotiation results that can be mutually beneficial for Korea and the U.S. under the principle of prioritizing national interests.'
He also drew a line against certain interpretations of 'an unusual current.' Concerns arose when the '2+2 trade talks' with the U.S. were postponed the previous day, and Gu Yoon-chul, Deputy Prime Minister for Economy and Minister of the Ministry of Economy and Finance, received the news late while waiting to depart at Incheon Airport. Wi Seong-lak, Director of National Security, stated, 'While some are saying there has been an unusual current in the negotiation front between Korea and the U.S. or that we have rejected something, negotiations are still ongoing,' adding, 'There are various aspects being reflected in our package, and there are additional components we can add.'