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

South Korean Trade Minister Cheong In-kyo will visit Washington this week for tariff negotiations with U.S. administration officials, Seoul’s trade ministry said Monday.

Cheong is set to visit Washington for two days from Tuesday (U.S. time) to meet with U.S. Trade Representative (USTR) Jamieson Greer and other government officials, according to the Ministry of Trade, Industry and Energy.

Cheong’s planned trip comes after U.S. President Donald Trump announced 25 percent reciprocal tariffs for South Korea last week, which will go into effect Wednesday.

The new tariffs on South Korea is part of the Trump administration’s broader scheme aimed at imposing reciprocal duties country-by-country to reduce America’s trade deficits and boost its domestic manufacturing industries.

During his upcoming trip to Washington, Cheong plans to address Seoul’s concerns over the new U.S. duties and seek ways to lower the tariff rate for South Korea.

Cheong will also work to identify the Trump administration’s plans for additional levies, according to the ministry.

The U.S. reportedly plans to announce tariffs on semiconductor and pharmaceutical imports in the near future, following the enforcement of duties on steel, aluminum and auto imports over the past few weeks.

“We are in a severe situation where Korean companies exporting to or operating in the U.S. are expected to suffer difficulties due to the reciprocal tariffs announced on April 2, as well as duties on steel, aluminum, cars and auto parts,” Cheong said in a press release.

“The government will put in all-out efforts in negotiations with the U.S. to minimize the impact of Washington’s trade policies on Korean businesses and industries,” he added.