South Korea: “Tariff Negotiations with the US Reached Agreement”
President Lee Jae-myung announced on Facebook on the 31st, “We have concluded tariff negotiations with the United States,” adding, “We have overcome a major hurdle.”
President Lee explained, “Negotiations with the United States, the world’s largest market, were the first trade task of our sovereign government.” He added, “Despite the tight deadline and challenging conditions, the government approached the negotiations solely with national interests as its top priority.”
He continued, “Through these negotiations, the government has eliminated uncertainty in the export environment and aligned US tariffs with those of our major export competitors, creating an environment where we can compete on equal or superior terms with major countries.”
President Lee emphasized, “The $350 billion fund included in the trade agreement solidifies the foundation for strategic industrial cooperation between the two countries. It will play a role in facilitating the active entry of our companies into the US market in industries where we have strengths, such as shipbuilding, semiconductors, secondary batteries, biotechnology, and energy.”
He added, “Of this, $150 billion will be earmarked as a dedicated shipbuilding cooperation fund, which will firmly support Korean companies’ entry into the US shipbuilding industry.”
President Lee stated, “Negotiations are not easy because there are competing parties. It is important to achieve mutually beneficial results, rather than seeking only one side’s advantage.” He added, “This agreement is the result of the convergence of the US interest in rebuilding the manufacturing sector and our commitment to enhancing the competitiveness of Korean companies in the US market.”
He added, “I expect this to serve as a milestone for further strengthening industrial cooperation between Korea and the US and solidifying the ROK-US alliance.” He added, “Going forward, the government will always prioritize pragmatic diplomacy centered on national interests.”
[Editor Lee]
