South Korea Seeks US Tariff Exemption

South Korea has formally requested an exemption from the United States’ proposed tariffs, as concerns grow over Washington’s trade policies.

Industry Minister Ahn Duk-geun raised the issue during high-level meetings in Washington this week, emphasizing the potential economic impact on South Korean businesses.

During discussions with US Commerce Secretary Howard Lutnick, US Trade Representative Jamieson Greer, and Interior Secretary Doug Burgum, the South Korean delegation pushed for measures to protect its industries.

The talks focused on expanding bilateral cooperation while addressing Seoul’s concerns over new trade restrictions.

The visit comes at a critical time, as the US administration considers imposing a 25% tariff on all steel and aluminum imports.

Additional duties on cars, semiconductors, and pharmaceuticals are also under review, raising fears in South Korea about potential economic setbacks.

Seoul has stressed the importance of securing exemptions to safeguard its industries. The South Korean government has indicated that if a full exemption is not possible, it will seek assurances that its industries are not placed at a competitive disadvantage compared to other nations.

The discussions also covered broader industrial cooperation, including shipbuilding and advanced manufacturing. 

Both sides agreed to establish advisory bodies to continue negotiations on trade policies and economic collaboration.