Trade Minister Yeo Han-koo has delivered South Korea's commitment to upholding its tariff deal with the United States to Washington officials, calling for a "mutually beneficial" resolution to trade tensions escalating between the two countries amid US President Donald Trump's tariff hike threat, Yeo's office said Wednesday.
Yeo headed to the US capital last week to expand Seoul's outreach in the US after Trump made a surprise announcement that he will raise "reciprocal" tariffs and auto duties on Korea back to 25 percent, citing a delay in the legislative process supporting the implementation of the countries' bilateral trade deal, which was finalized in October.
During his weeklong trip, Yeo met with officials from the Office of US Trade Representative and some 20 US lawmakers to reaffirm Seoul's commitment to legislating a special bill to implement the trade deal and address non-tariff issues related to digital regulations and others, according to the Ministry of Trade, Industry and Resources.
Yeo called for a "mutually beneficial" solution to the renewed trade tension between the two countries in his meetings, stressing that a tariff hike would have a grave impact on both countries' economies and industries, the ministry said.
The minister also conveyed Korea's position on non-tariff trade barrier issues raised earlier by the USTR.
In its annual report on trade barriers last year, the USTR pointed to a wide range of what it called non-tariff measures by South Korea, including its push for online platform regulations.
"We will continue to engage in intensive consultations with the US government, Congress and industries to find a reasonable solution acceptable to both South Korea and the United States," Yeo said in a press release.
Yeo is set to return home Thursday. (Yonhap)
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