[Breaking News] Minister of Trade Kim Jeong-gwan Requests 'Tariff Reduction' in the U.S.

Minister Kim Jeong-gwan of the Ministry of Trade, Industry and Energy, who is currently visiting the United States, together with Deputy Minister for Trade Negotiations Yeo Han-gu, met with U.S. Secretary of Commerce Howard Lutnick on the 24th (local time) for in-depth discussions on solutions for concluding tariff negotiations, the Ministry announced on the 25th.

The Ministry released a press reference on the same day. According to the material, Minister Kim met with Secretary Lutnick at the U.S. Department of Commerce in Washington, D.C. at 11:30 AM the previous day, thoroughly discussing solutions not only for concluding tariff negotiations but also for strengthening cooperation in U.S.-Korea manufacturing, including key measures.

At this meeting, Minister Kim introduced potential ways to strengthen cooperation between the two countries in strategic manufacturing sectors such as shipbuilding, semiconductors, and batteries, and strongly requested the need for easing tariffs and reciprocal tariffs, including on automobiles.

The Ministry emphasized that Minister Kim and Secretary Lutnick reaffirmed their intention to produce a mutually beneficial solution before August 1, the U.S.-imposed date for reciprocal tariff enforcement.

In addition, both sides agreed to continue additional negotiations as soon as possible.

Minister Kim stated, "We will devote all efforts to ensure our companies are not disadvantaged compared to rival nations," adding, "Based on the results of these discussions, we will commit all available resources to ensure the best outcome maximizing national interests is achieved before August 1."

Reporter Kim Jeong-woo enyou@hankyung.com