'First Korea-US Trade Talks'... Request for Mutual and Item-Specific Tariff Exemptions

In the first trade talks with the US regarding the Trump-era tariffs, the government requested mutual and item-specific tariff exemptions. They also proposed finding ways for the two countries to mutually contribute to enhancing Korea's energy security and rebuilding the US shipbuilding industry.

The Ministry of Strategy and Finance announced that these discussions took place during the Korea-US 2+2 trade talks held on the 24th (local time). The talks were held at the US Department of the Treasury and lasted about 1 hour and 10 minutes from around 8:10 AM.

From Korea, Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok and Minister of Trade, Industry and Energy Ahn Deok-geun attended, while from the US, Secretary of the Treasury Scott Besant and USTR Jamieson Greer participated.

According to the Ministry of Strategy and Finance, Deputy Prime Minister Choi conveyed the public's concerns about the mutual and item-specific tariffs imposed by the US during the talks.

Emphasizing that Korea is a reliable partner for the US, he proposed seeking 'mutually beneficial cooperation measures' that would benefit both countries.

Deputy Prime Minister Choi also explained to the US side that calm and orderly discussions are necessary considering Korea's current situation.

This is interpreted as a suggestion to postpone discussions on important agendas until the new government is inaugurated, as the presidential election process has begun following the impeachment of the president.

Minister Ahn, who was present at the meeting, proposed sustainable and balanced Korea-US trade and mutual contribution measures for enhancing Korea's energy security and rebuilding the US shipbuilding industry. He also requested exemptions from mutual and item-specific tariff measures on Korea.

The government stated, "This was the first official meeting, and it proceeded in a friendly atmosphere," adding, "The two countries agreed to continue working-level meetings and additional high-level discussions in the future."

Secretary Besant also commented on the talks with Korea, saying, "We had a very successful bilateral meeting," and "We will discuss technical conditions as we reach an understanding as early as next week."

Reporter Shin Min-kyung, Hankyung.com radio@hankyung.com