Yeo Han-koo, head of the Office of the Minister for Trade at the Ministry of Trade, Industry and Resources, said the ruling and opposition parties' agreement to form a special committee and pass a special bill on investment in the United States within a month "will help block the U.S. tariff increase."
The Deputy Minister, returning to Korea through Incheon Airport on the morning of Feb. 5 after a visit to the United States, told reporters, "We cannot presume the U.S. position, but since the biggest reason cited for the tariff increase is the legislative delay of the special bill on investment in the United States, I think the part where our National Assembly said the parties will move faster by agreement will clearly help."
Yeo said, "It is important that we continue to faithfully implement the agreement and consult closely with the U.S. side to avoid misunderstandings," adding, "Even if there is publication in the Federal Register regarding the tariff increase in the United States, it is important whether the effective date is immediate or allows about one to two months of leeway."
Yeo, who met with the deputy representative of the Office of the United States Trade Representative (USTR) and lawmakers in the United States, said, "I emphasized that Korea is willing to faithfully and promptly implement the tariff agreement," and added, "I also persuaded them that it is not desirable for this to be directly linked to a tariff increase when Korea is making good-faith efforts like this."
Regarding not being able to meet USTR Representative Jamieson Greer, the "counterpart," this time, Yeo said, "I met Representative Greer five times over the past three weeks," adding, "We will continue consultations on tariff and non-tariff issues."