Seoul: South Korea has formally requested that the United States exclude Seoul from its new tariff plans, according to the Industry Ministry. This move comes in response to a series of tariff measures announced by US President Donald Trump as part of his "America First" agenda.
According to Anadolu Agency, US President Trump recently signed proclamations to impose 25% tariffs on steel and aluminum imports, with these measures set to take effect on March 12. In light of these developments, South Korean Industry Minister Ahn Duk-geun expressed concerns during a meeting with US Secretary of Commerce Howard Lutnick. The minister communicated the worries of South Korean companies regarding the new tariff system and urged the US to exempt South Korea from these tariffs. The discussions also encompassed strengthening bilateral partnerships in sectors like shipbuilding and advanced industries.
Minister Ahn emphasized South Korea's commitment to securing favorable outcomes through systematic and earnest negotiations with the US on new industry, trade, and energy policies. He cited South Korea's successful navigation of past US policies such as the CHIPS Act and Inflation Reduction Act as a foundation for future discussions. The US remains a significant trading partner for South Korea, which exports a range of products including cars, machinery, and electronics.
Last year, South Korea reported a $66 billion trade surplus with the US, underscoring the economic importance of maintaining strong trade relations between the two nations.