S. Korean trade minister to visit Washington this week for tariff negotiations

SEOUL, March 12 (Yonhap) -- South Korean Trade Minister Cheong In-kyo will visit Washington later this week to meet with U.S. government officials for tariff negotiations, Cheong's office said Wednesday.

Cheong will depart Thursday on a two-day trip to Washington for negotiations with the Donald Trump administration on the latter's new tariff scheme, according to the Ministry of Trade, Industry and Energy.

During the visit, Cheong plans to discuss bolstering bilateral cooperation on supply chains with officials from the Office of the U.S. Trade Representative and other government agencies, and stress the need for a stable environment for South Korean companies' investments in the United States.

"The ministry will continue negotiations on topics discussed during the bilateral ministerial meeting in February," Cheong said in a press release, vowing to work to promote the interests of both Seoul and Washington.

Industry Minister Ahn Duk-geun met with U.S. Secretary of Commerce Howard Lutnick and other officials late last month, and discussed expanding bilateral cooperation in shipbuilding, energy and other industries.

Following the meeting, Seoul and Washington launched consultative bodies on tariff negotiations, shipbuilding collaboration and energy cooperation, which includes South Korea's possible participation in the U.S.' gas pipeline development project in Alaska.

Earlier Wednesday, the Trump administration's 25 percent tariffs on all steel and aluminum imports took effect, stoking fears of a global trade war.

The Seoul government has been working to devise response measures to the U.S. tariff scheme, which is expected to affect major industries, from steel to car manufacturing and semiconductors.

nyway@yna.co.kr
(END)