South Korea’s Foreign Minister Cho Hyun revealed that US Trade Representative Jamieson Greer informed him that the United States plans to raise tariffs back to 25 per cent if South Korea does not address non-tariff barriers. Cho discussed the details of his meeting with Greer in Washington with lawmakers, emphasizing the importance of resolving trade issues to maintain the trade deal with the US.
Cho stated that the US aims to elevate tariffs on South Korea to tackle the trade deficit if discussions on non-tariff barriers do not progress. Despite Seoul committing to invest $350 billion in the US in return for a reduced duty rate of 15 per cent, President Donald Trump has threatened to increase tariffs due to delays in implementing the trade agreement.
Non-tariff barriers primarily involve South Korea’s regulatory actions related to digital platform services, agricultural imports, and certification requirements for various sectors. Washington has raised concerns about discriminatory regulations on digital services and has urged South Korea to ease restrictions in agriculture and other areas.
According to Cho, Greer highlighted the slow advancement in the investment commitment and the lack of dialogue on non-tariff issues despite US calls for progress in the trade deal. Greer emphasized the need for South Korea to comprehend the US’s objective of addressing the trade deficit through tariff adjustments if negotiations do not advance, urging a prompt resolution from Seoul.
Cho assured lawmakers that the government is treating the issue seriously and plans to take prompt action. Additionally, he mentioned that a US delegation, confirmed by US Secretary of State Marco Rubio, will visit South Korea in February to discuss expanding Seoul’s rights concerning civil uranium enrichment and spent fuel reprocessing.
