Top trade negotiators take turns visiting US to avert tariff hike

Trade Minister Yeo Han-koo speaks to reporters at Incheon International Airport before departing for Washington, Thursday. Yonhap

The government has dispatched more top trade negotiators to Washington in an effort to prevent the United States from raising its tariff on Korean goods back to 25 percent, from 15 percent, the level agreed upon last year.

According to sources familiar with the matter on Sunday, Trade Minister Yeo Han-koo held a series of meetings with officials from the Donald Trump administration and U.S. lawmakers as soon as he arrived in Washington on Friday (local time).

The Ministry of Trade, Industry and Resources, however, declined to confirm whether Yeo met with U.S. Trade Representative Jamieson Greer over the weekend or when the trade minister would meet his U.S. counterpart during his U.S. trip that ends Thursday.

“It is difficult to disclose the trade minister’s schedule at this moment,” a ministry spokesperson said. “We will announce who he met after his trip concludes.”

Industry Minister Kim Jung-kwan, fourth from left, speaks during a meeting with U.S. Commerce Secretary Howard Lutnick, fourth from right, in Washington, Thursday (local time). Courtesy of Ministry of Trade, Industry and Resources

From Wednesday to Friday, Industry Minister Kim Jung-kwan visited Washington to meet with U.S. Commerce Secretary Howard Lutnick.

Kim, who had been in Canada last week to support Hanwha’s submarine construction bid, was sent to the U.S. abruptly after Trump threatened to raise tariffs on Korea, citing delays in the National Assembly’s passage of a special law meant to justify Korean investments in the U.S. in exchange for tariff cuts.

Kim’s meetings with Lutnick on Thursday and Friday, however, ended without any tangible outcome.

Speaking to reporters at Incheon International Airport on Saturday, Kim said he believed “unnecessary misunderstandings” were resolved through the talks. He also denied speculation that Trump’s latest tariff threat was related to Korea’s investigation into Coupang or regulations proposed for monopolistic online platforms.

“Coupang was not mentioned during our discussions,” he said. “It seems the U.S. side does not consider that issue relevant to its tariff decision.”

Kim acknowledged that the procedure for a tariff hike has already begun.

“The U.S. is preparing an official public announcement (on tariff increases) and sanctions (against Korea),” he said.

On Wednesday, Foreign Minister Cho Hyun will visit the U.S. to attend a multilateral ministerial meeting on stabilizing critical mineral supply chains. The government is reportedly arranging a one-on-one meeting between Cho and U.S. Secretary of State Marco Rubio, who will preside over the multilateral session.

Cho told reporters Thursday that Trump’s warning should not be seen as a collapse of the Korea-U.S. joint fact sheet signed last November.

“I believe things will work out if we take proper measures and explain them thoroughly to the U.S. side,” he said. “This process should be viewed not as a renegotiation but as consultations to implement the existing fact sheet faithfully.”

In contrast, the ruling Democratic Party of Korea (DPK) openly criticized the U.S., urging Washington to wait until the National Assembly passes the special law through the standard legislative process.

“The U.S. government appears to be creating unnecessary conflict,” Rep. Han Jeoung-ae, chair of the DPK’s policy committee, said Sunday. “If you read the joint fact sheet, the U.S. is clearly aware that Korea needs to follow legislative procedures.”

She added that the special law is expected to pass this month during a provisional session of the National Assembly.

Last week, the minor opposition Rebuilding Korea Party and Jinbo Party also condemned Trump for infringing on Korea’s legislative sovereignty.