Seoul, Feb 23 (IANS) South Korea will continue holding “amicable” consultations with the United States on tariff issues to safeguard the favourable export conditions secured through its bilateral trade deal with the US, Seoul’s industry minister said on Monday.Kim Jung-kwan, minister of trade, industry and resources, also vowed continued support for local businesses to boost their global competitiveness amid trade uncertainties, reports Yonhap news agency.”Under the principle of maximising natio…
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Seoul, Jan 31 (IANS) South Korea’s Industry Minister Kim Jung-kwan said on Saturday that he thinks “unnecessary misunderstandings” were resolved through his talks with U.S. Commerce Secretary Howard Lutnick in Washington over renewed trade tensions this week.Kim made the remark upon his return home at Incheon International Airport in Incheon, west of Seoul, after holding meetings at the Commerce Department on Thursday and Friday (US time), which ended without reaching a conclusion, reports Yonha…
Washington, Jan 31 (IANS) South Korea’s Industry Minister Kim Jung-kwan said that his talks with US Commerce Secretary Howard Lutnick over renewed trade tensions ended without reaching a conclusion, but their understanding of each other’s positions has “deepened.”They met at the Commerce Department in Washington for the second straight day, after U.S. President Donald Trump’s threatened on Monday to raise “reciprocal” tariffs and auto duties on Korea to 25 percent from 15 percent, citing a delay…
Washington, Jan 30 (IANS) Industry Minister Kim Jung-kwan said that he and US Commerce Secretary Howard Lutnick concluded the first day of their talks over renewed tariff tension between the two countries without an agreement but they agreed to meet again the next day.Kim and Lutnick held the meeting in Washington, three days after Trump threatened to increase reciprocal tariffs and auto, lumber and pharmaceutical duties on South Korea to 25 per cent from 15 per cent, citing a delay in Seoul’s l…
Washington, Jan 28 (IANS) US President Donald Trump has said that his administration will work “something” out with South Korea after he threatened earlier this week to raise “reciprocal” tariffs and other levies on the Asian ally.His remarks raised hopes for negotiations between Seoul and Washington to address their renewed trade tension as South Korea’s Industry Minister Kim Jung-kwan is expected to visit the United States for talks with Commerce Secretary Howard Lutnick, reports Yonhap news a…
Seoul, Jan 27 (IANS) US President Donald Trump’s surprise announcement to raise tariffs on South Korea appears to be aimed at pressuring the country to swiftly carry out its investment pledge to the United States amid domestic uncertainties, including the U.S. Supreme Court’s planned ruling on the legality of the tariffs, experts here said on Tuesday.Earlier in the day, Trump said in a social media post that he is raising “reciprocal” tariffs and auto duties on South Korea to 25 per cent from 15…