[Yeo Han Ku, the chief trade negotiator at the Ministry of Trade, Industry and Energy / Courtesy of News1] Yeo Han Ku, the chief trade negotiator at the Ministry of Trade, Industry and Energy, said on Thursday that the National Assembly’s decision to form a special committee for the U.S. Investment Special Act and push for legislation within a month would help prevent the United States from raising tariffs.
[Courtesy of News1] Yeo, who had just returned from a trip to the United States to address the pressure of potential tariff increases on South Korea, told reporters that the main reason the U.S. has cited for increasing tariffs is the delay in enacting the U.S. Investment Special Act.
[Courtesy of News1] He added that the National Assembly’s bipartisan agreement to accelerate legislation was undoubtedly a positive signal in efforts to persuade the U.S.
[Courtesy of News1] During his U.S. visit, which began on January 29, Yeo focused on explaining the South Korean government’s commitment to U.S. investment.
[Courtesy of News1] He met with various officials, including the Deputy U.S. Trade Representative, members of Congress, and representatives from think tanks.
[Courtesy of News1] Although Yeo did not meet directly with his counterpart, U.S. Trade Representative Jamieson Greer, during this visit, he noted that they had held five in-person meetings over the past three weeks and plan to continue discussions next week.
[Courtesy of News1] Regarding the possibility of the tariff increase being published in the Federal Register, as President Trump had indicated, Yeo remarked that the crucial factor is whether the increase will take effect immediately or there will be a grace period of one to two months.
[Courtesy of News1] He added that they would continue negotiations with the U.S. and do their utmost to reach a conclusion that best serves national interests.
[Courtesy of News1]
[Courtesy of News1]