Government Forms US Visit Negotiation Team Led by Industry Minister for Comprehensive Cooperation in Shipbuilding and Energy

The 4th Economic Security Strategy Task Force Meeting
Government Forms Negotiation Team to Address U.S. Reciprocal Tariff Measures
Han Deok-soo: "Pushing for Comprehensive Consultations Benefiting Both Countries"

Yonhap News

The government is forming a negotiation team led by the Minister of Trade, Industry and Energy to begin full-scale negotiations regarding the U.S. reciprocal tariff imposition measures.

Han Deok-soo, Acting President and Prime Minister, stated on the 14th at the 4th Economic Security Strategy TF meeting held at the Prime Minister's official residence in Seoul, "We will form a negotiation team centered on the Minister of Trade, Industry and Energy and will push for a visit to the U.S. as soon as possible."

This meeting was convened following the visit of Jeong In-kyo, Director General for Trade Negotiations, to the U.S., after which the U.S. government announced the exclusion of tariffs on Korean-made smartphones and computers and officially formalized a 90-day suspension of reciprocal tariff measures. The government called the meeting to share the changed situation with the private sector and to discuss future response directions through a public-private joint effort.

Acting President Han emphasized, "This should not be limited to a simple tariff issue but should advance into comprehensive consultations that benefit both countries, including cooperation in energy and shipbuilding sectors," adding, "To this end, we will simultaneously conduct multi-layered consultations at ministerial and working levels to proceed with a sense of urgency."

He also urged public officials to "respond proactively with a creative perspective," stating that this trade crisis should serve as an opportunity to improve outdated domestic systems and practices that do not meet global standards.

The business community requested the government to actively negotiate with the U.S., saying, "Tariffs imposed on essential imported equipment and facilities during the establishment of factories in the U.S. are a significant burden on Korean companies."

This content was produced with the assistance of AI translation services.