Economic leaders visit U.S., do their best in tariff negotiations… “Towards maximizing national interests”
Economic leaders visit U.S., do their best in tariff negotiations… “Towards maximizing national interests”
The Ministry of Trade, Industry and Energy announced on the 23rd that Minister Kim Jung-kwan will visit Washington D.C. from that day to the 25th (local time) to meet with key figures from the U.S. government, including Secretary of Commerce Howard Rutnick, Secretary of Energy Chris Wright, and Chairman of the National Energy Council Doug Burgum, and hold ministerial-level consultations to discuss the progress of Korea-U.S. tariff negotiations and ways to strengthen cooperation in the industrial and energy sectors.
This visit to the U.S. is Minister Kim’s first visit to the U.S. since taking office, and is part of the government’s comprehensive response to high-level tariff negotiations as the deadline for U.S. tariff measures scheduled for next month approaches.
Under the principles of maximizing national interests and mutual benefit, Minister Kim Jung-kwan plans to explore ways to advance tariff negotiations based on the manufacturing renaissance partnership that our side has proposed so far, and also discuss ways to strengthen cooperation in strategic industries such as shipbuilding, semiconductors, and batteries, as well as the energy sector.
Minister Kim stated, “As the results of the tariff negotiations could have a significant impact on our economy, the government will thoroughly respond by closely considering the sensitivity of our entire industry,” and emphasized, “It is currently difficult to predict the direction of the US tariff measures, but we will negotiate in a way that maximizes national interests through close cooperation at the government level.”
He added, “We will do our best to produce a positive sum result that can upgrade cooperation in the industrial and energy sectors between Korea and the US.”
Deputy Prime Minister and Minister of Strategy and Finance Koo Yoon-chul will also depart for the country the following day, the 24th.
According to the Ministry of Strategy and Finance, Deputy Prime Minister Koo plans to hold a meeting with the America First Policy Institute (AFPI) and the Peterson Institute for International Economics, major think tanks located in Washington, D.C., on the 24th (local time) to discuss the recent global economic situation and the direction of Korea-US cooperation.
In addition, on the 25th, he will participate in the ‘2+2 Trade Negotiations’ with Yeo Han-goo, Director General for Trade Negotiations at the Ministry of Trade, Industry and Energy. The talks will be attended by U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamison Greer.
Meanwhile, Yeo Han-goo, the head of the trade negotiation headquarters, left for the United States on the 22nd for this meeting.
On his way out, Yeo emphasized, “This is a very cautious time, and since all possibilities, including the best and worst scenarios, are open to us, we will do our best to reflect our sensitive issues and maximize our national interests.”
He also said, “Based on the ‘Korea-US Manufacturing Renaissance Partnership’ proposed to the US during my last visit to the US, I will do my best to ensure that this tariff negotiation leads to a positive-sum result where investment and purchases in the US and the creation of new growth engines are virtuously cycled.”
[Editor Lee]
