 |
| Yeo Han-koo, head of the trade negotiations division of the Ministry of Trade, Industry and Energy, left, shakes hands with Katherine Tai, the U.S. Trade Representative (USTR), during the 6th Korea-U.S. FTA Joint Committee Meeting at the Shilla Hotel in Seoul, Friday. Yonhap |
By Kim Hyun-binYeo Han-koo, head of the trade negotiations division at the Ministry of Trade, Industry and Energy, met with Katherine Tai, the U.S. Trade Representative (USTR), Friday, to explore ways further to strengthen their countries ties on a number of pending issues, such as collaboration in addressing the semiconductor shortage
The specific details of the Yeo-Tai meeting are unknown, however, Yeo reportedly directly asked his U.S. counterpart to hold talks on the revision of Section 232 of the Korea-U.S. Free Trade Agreement (KORUS FTA), which deals with tariffs on steel and aluminum imports. As had been widely expected, various proposals and ways to strengthen the strategic partnership in chips and autos were also discussed, government officials said.
“Yeo requested an early start in consultations regarding the U.S. tariffs in Section 232 that have been affecting local steel exporters,” an official at the country’s trade ministry said.
Tai’s visit to Korea has drawn attention because her visit comes a few days after Korean semiconductor companies operating plants in the United States submitted “second-level” semiconductor operational data to the U.S. Commerce Department. Samsung and SK’s partial compliance with a U.S. demand is strengthening views that Korea will back Biden administration’s initiative to address technology supply chain concerns actively and thoroughly.
Despite repeated requests from SK and LG, no separate meetings with their leaders were held. The USTR is known as the “hidden force” who pressured SK to accept LG’s requests to pay billions of dollars in compensation in a battery dispute case by a White House-set deadline, according to officials.
Tai is the USTR of Asian descent and is a key figure in the Biden administration’s trade policy.
Yeo and Tai took part in the 6th Korea-U.S. Free Trade Agreement (FTA) Joint Committee Meeting at the Shilla Hotel, Friday. The two sides vowed to strengthen strategic partnerships on various new trade issues, including supply chains, technology, and digital and climate-related trade policies.
The KORUS FTA took effect in 2012, and the joint committee is held as a consultation channel between the two countries’ trade representatives to inspect the implementation of the FTA and to discuss related issues.
Tai arrived from Japan for a four-day stay, Thursday, and held separate talks with Labor Minister An Kyung-duk on workers’ rights and related trade policy, later Friday. On Saturday, she is scheduled to meet with female leaders from the public and private sectors before heading to India the following day.
Korea asks US for talks on steel tariff revision
Source: Buhay Kapa PH
0 Comments