Minister Kim Jung-kwan of the Ministry of Trade, Industry and Resources, referring to talks on U.S.-Korea tariff issues during his visit to the United States, said, "Mutual understanding has deepened greatly, and I think unnecessary misunderstandings have been resolved."
Minister Kim returned via Incheon International Airport on the 31st and told reporters, "I fully explained that the Korean government has no intention whatsoever of failing to implement or delaying the tariff agreement reached at the time."
While carrying out a schedule to support a bid for a submarine project in Canada, Minister Kim was urgently dispatched to Washington, D.C., on the night of the 28th after U.S. President Donald Trump on the 26th (local time) mentioned on the social media platform Truth Social the delay in enacting the Special Act on Investment in the United States and said reciprocal tariff rates could be rolled back to 25% from 15%. In Washington, D.C., Minister Kim met twice with U.S. Secretary of Commerce Howard Lutnick to confirm the U.S. position and explain Korea's circumstances.
Minister Kim said the U.S. side regretted that the Special Act on Investment in the United States is pending in the National Assembly, and he explained that full-fledged discussion had been difficult since the bill was submitted in Nov. last year due to the Dec. budget talks and the Jan. confirmation hearing for the Ministry of Planning and Budget Minister nominee. He added, "Going forward, the bill will proceed at a rapid pace, and we said we would align with the United States."
On the possibility of U.S. tariff hikes, he said, "There is President Trump's message, but tariff increase measures have already begun," adding, "They are preparing for publication in the official gazette and preparing sanctions." He added, however, "The talks do not end here; after internal review, we plan to hold one more videoconference from Korea soon."
Regarding whether there is a preliminary review plan to accelerate investment before the Special Act on Investment in the United States is enacted, Minister Kim said, "There are no special instructions, and we need to discuss further." Earlier, presidential policy chief Kim Yong-beom had said that advance preparation measures could be reviewed even before the act passes.
On speculation that the "Online Platform Fairness Act" (Onple Act) or the so-called "Coupang issue" may have influenced the negotiations, Minister Kim drew a line, saying, "It was an issue that never came up even once in the negotiations."
Meanwhile, Minister Kim said he also met with U.S. Energy Secretary Chris Wright during this trip to discuss energy and resource cooperation. On U.S.-Korea nuclear cooperation, he only said, "There were various discussions." Regarding the outline of the first investment project in the United States, he said, "It is not at a concrete stage, and formal procedures will proceed after the act passes," adding, "I think it is necessary for the act to pass as quickly as possible, and the government will work toward that."