Korean gov't waiting for Washington's official announcement on auto tariffs: Trade minister
- 5 years ago
With U.S. President Donald Trump expected to announce his tariff decision on auto imports by this Saturday... Seoul's trade minister was in Washington for the past five days with hopes of avoiding a negative impact on South Korean carmakers.
Ko Roon-hee reports.
South Korea is putting in final efforts to protect local carmakers from possible U.S. auto tariffs.
After meeting with officials in Washington to call for an exemption from the potential levies, Seoul's trade minister Yoo Myung-hee is on her way back to Korea.
Speaking to reporters on Thursday at Washington Dulles International Airport, Minister Yoo said... the Trump administration and members of Congress have positively evaluated the South Korean government's efforts so far, including the revised Seoul-Washington free trade agreement which came into force this year.
During her visit, she met with top officials, including U.S. Commerce Secretary Wilbur Ross, Trade Representative Robert Lighthizer and White House economic adviser Larry Kudlow.
Regarding Bloomberg's recent report about Washington planning to exempt South Korea from any future tariffs,...the trade minister said she won't prejudge before the official announcement.
Minister Yoo added that Korean officials did their best until the very end to make sure the so-called Section 232 measures aren't applied to Korean cars.
In February, the U.S. Commerce Department submitted a report to the White House...on whether imported cars, pose a threat to national security... by negatively affecting American carmakers' ability to invest in future technologies.
Although the Trump administration has been reviewing tariffs of up to 25 percent on imported vehicles..., many analysts say the revised Seoul-Washington free trade agreement might have settled the possible trade disputes with South Korea in advance.
Bloomberg also reported that President Trump plans to postpone the tariff decision...and give the European Union and Japan 180 days to agree to a deal that would 'limit or restrict' auto imports into the U.S.
However, speaking to Fox Business on Thursday,... U.S. Commerce Secretary Wilbur Ross said President Trump has "many options" on auto tariffs.
Ko Roon-hee, Arirang News.
Ko Roon-hee reports.
South Korea is putting in final efforts to protect local carmakers from possible U.S. auto tariffs.
After meeting with officials in Washington to call for an exemption from the potential levies, Seoul's trade minister Yoo Myung-hee is on her way back to Korea.
Speaking to reporters on Thursday at Washington Dulles International Airport, Minister Yoo said... the Trump administration and members of Congress have positively evaluated the South Korean government's efforts so far, including the revised Seoul-Washington free trade agreement which came into force this year.
During her visit, she met with top officials, including U.S. Commerce Secretary Wilbur Ross, Trade Representative Robert Lighthizer and White House economic adviser Larry Kudlow.
Regarding Bloomberg's recent report about Washington planning to exempt South Korea from any future tariffs,...the trade minister said she won't prejudge before the official announcement.
Minister Yoo added that Korean officials did their best until the very end to make sure the so-called Section 232 measures aren't applied to Korean cars.
In February, the U.S. Commerce Department submitted a report to the White House...on whether imported cars, pose a threat to national security... by negatively affecting American carmakers' ability to invest in future technologies.
Although the Trump administration has been reviewing tariffs of up to 25 percent on imported vehicles..., many analysts say the revised Seoul-Washington free trade agreement might have settled the possible trade disputes with South Korea in advance.
Bloomberg also reported that President Trump plans to postpone the tariff decision...and give the European Union and Japan 180 days to agree to a deal that would 'limit or restrict' auto imports into the U.S.
However, speaking to Fox Business on Thursday,... U.S. Commerce Secretary Wilbur Ross said President Trump has "many options" on auto tariffs.
Ko Roon-hee, Arirang News.