South Korea's Trade Minister Cheong In-kyo has urged the U.S. to exempt Seoul from upcoming reciprocal tariffs set to take effect on April 2, according to the trade ministry. During his visit to Washington, Cheong met with U.S. Trade Representative Jamieson Greer, emphasizing that South Korea should not face unfair treatment.
President Donald Trump recently announced plans to impose reciprocal tariffs on all U.S. trading partners, citing South Korea's allegedly high tariffs—claiming they are four times higher than those of the U.S. However, Seoul disputes this, stating that the effective tariff rate on U.S. imports is just 0.79% under the two countries’ free trade pact.
Both nations agreed to continue discussions on tariff and non-tariff measures to seek mutually beneficial solutions, the ministry said. South Korea’s acting President Choi Sang-mok has also instructed officials to enhance diplomatic efforts to address potential trade disputes, warning that Trump’s "America First" policies could negatively impact Seoul.
With trade tensions escalating, South Korea is seeking to safeguard its economic ties with the U.S., a key ally and trading partner. The outcome of these negotiations could have significant implications for global trade dynamics and the stability of U.S.-South Korea relations.