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South Korea plans ‘all-out effort’ to respond to Trump tariffs

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South Korea plans ‘all-out effort’ to respond to Trump tariffs

South Korean officials have requested an exemption from President Trump ’s new tariffs on steel and aluminum imports as part of a broader response to the trade policy, Reuters reported Monday. 

“We will make clear what our stance is,” Finance Minister Kim Dong-yeon said. 

“(The government) will deploy all possible means to respond to U.S. steel tariffs measures and make an all-out effort,” he added. 

The country’s trade minister, Kim Hyun-chong, will travel to the U.S. on Tuesday, Reuters reported, this third trip in recent weeks focused on responding to the tariffs.

Trump last week announced a plan to impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports, a move that shook both Washington, D.C., and global markets.

The president said Canada and Mexico would be exempt from the tariffs for a time, and other countries could negotiate similar exemptions.

South Korean officials are also expected to address concerns over trade frictions at the Group of 20 meeting later this month.

South Korean officials helped broker an agreement between North Korea and the U.S. that was announced last week.

Trump in a surprise move on Thursday night announced that he had agreed to meet with the North Korean leader Kim Jong Un, which would make him the first sitting president to take a meeting with a North Korean leader.

South Korean officials said that the North has agreed to stop its missile tests while talks between the U.S. and North Korea take place.

 

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