Following a visit by Minister of Trade, Industry and Energy Kim Jung-kwan, Yeo Han-koo, head of the Trade Negotiation Headquarters at the Ministry, also traveled to the U.S. to seek a withdrawal of the proposed tariff increase on Korean products. However, he returned home without achieving any significant results.
It appears that President Donald Trump’s plan to raise tariffs on Korean goods is unlikely to be reversed in the near future.
On Tuesday, Yeo met with Korean correspondents in Washington, D.C., and reported that he had an extensive two-hour discussion with Deputy U.S. Trade Representative Rick Switzer.
He explained that the agreement with the U.S. covers major aspects of investment and non-tariff issues. He emphasized the commitment to fulfilling our promises, such as the joint fact sheets on U.S. investments, and detailed the progress it has made so far.
Yeo noted that it clarified some misunderstandings about the differences between Korean and American systems. However, he believes it needs to continue these outreach efforts moving forward.
Regarding speculation that the U.S. has initiated the process to publish the tariff increase on Korean products (from 15% to 25%) as announced by President Trump, he responded that he believes discussions are ongoing among relevant U.S. departments.
Yeo stated that on January 26, President Trump mentioned on social media that he could raise tariffs, but the timing of an official announcement remains unclear. The priority is to explain the position and communicate the progress as much as possible to prevent the tariff increase before it takes effect.
Yeo, who visited the U.S. on January 23, explained that he was unable to meet with United States Trade Representative (USTR) Representative Jamieson Greer due to scheduling conflicts.
He said that he met with Representative Greer two weeks ago at the World Economic Forum in Davos, where they had various discussions. However, due to the conclusion of U.S.-India tariff negotiations the day before, Greer’s schedule was busy, so he met with the deputy representative instead.
When asked if the U.S. raised the issue of Coupang, he responded that today, he held a closed-door meeting with about 30 congressional members and their aides, including over 20 senators and representatives. Naturally, various issues were discussed, but can only say that there was substantial dialogue.
He emphasized that he’s repeatedly stated that Coupang should be viewed separately from trade issues. It’s central to the data breach incident, and it can discuss reasonable solutions related to digital legislation, such as the proposed amendment to the Information and Communications Network Act.
Yeo stated that he believes President Trump’s announcement of the tariff increase on Korea through social media is largely influenced by delays in congressional legislative processes. However, in the current climate, it needs to manage various trade issues carefully.
When asked about potential discussions regarding Greer’s complaints about U.S. agricultural import measures expressed through American media, he replied that it cannot comment on specific issues.
