ISSN 2330-717X

Renegotiation To Extend South Korean Exemption After Trump Tariffs: South Korea-US Free Trade Agreement

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South Korea expressed regret over the United States’ decision to impose a 25 percent tariff on foreign steel products and said it will consider lodging a complaint with the World Trade Organisation if an exemption isn’t made.

Minister of Trade, Industry and Energy Paik Un-gyu convened a meeting with local steel firms Friday.

Paik added that the government will seek concerted efforts with other countries affected by the U.S. steel duties.

With fifteen days left until the measure takes effect, Trump said America will remain open to modifying or removing the tariffs for individual nations, “as long as we can agree on a way to ensure that their products no longer threaten our security.”

Later on Friday, Seoul’s presidential office announced its top envoy to Washington Chung Eui-yong relayed the request for an exemption from the tariff on steel.

On a separate note from his main mission of briefing President Trump on North Korea’s invitation to hold dialogue, Chung met U.S. Defense Secretary James Mattis and National Security Adviser Herbert McMaster on Thursday to bring up the steel trade issue.

Chung is said to have stressed the importance of the South Korea-U.S. alliance.

The U.S. officials reportedly said they will actively consider the request.

Original source


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Al Bawaba News

Al Bawaba News

Al Bawaba provides top stories and breaking news about the Middle East and the world. The Al Bawaba network consists of several web portals and media platforms.

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