S. Korea vows to negotiate with U.S. over 25% reciprocal tariffs

A Korean trade delegation led by Minister Cheong In-kyo has departed for the U.S. with intentions to address the 25 percent American tariff on Korean imports.

Park Jun-han has details.

Trade Minister Cheong In-kyo traveled to Washington on Tuesday to discuss tariffs imposed by the U.S. on South Korean products.

Cheong will meet U.S. trade representatives in Washington, and emphasized that the 25% tariffs affecting steel and automobiles would be the subject of talks during his visit.

"So we are trying to use multiple channels to solve the tariffs issue with the United States, and to come up with a trade policy outcome that will maximize South Korea's national interests."

This is the first visit by a South Korean government official to the U.S. since Trump announced his detailed reciprocal tariffs plan on April 2nd.

Regarding South Korea's stance on U.S. trade policy, Cheong said the Cabinet has been discussing the possibility of increasing imports from the United States, such as Alaskan liquefied natural gas.

The move is aimed at addressing the trade imbalance that Trump has repeatedly raised.

"I think as long as Korea is willing to provide some concessions to the United States, we could reduce the tariff rate from 25-percent to 15-percent or 10-percent."

At a ministerial meeting on economic affairs, Finance Minister Choi Sang-mok outlined a plan to create a supplementary budget to combat issues related to trade and AI.

Choi said the government is planning to spend 3 to 4 trillion won, about 2.04 to 2.72 billion dollars, to respond to rapid changes in the trade environment and enhance AI competitiveness.

Choi also called on the National Assembly to swiftly approve the budget, emphasizing the need to seize this critical window to save South Korea's industries and businesses.

Park Jun-han, Arirang News.