Seoul: The United States has expressed interest in South Korea's proposal for manufacturing collaboration, focusing particularly on the shipbuilding and semiconductor sectors during recent trade discussions, according to Seoul's top trade negotiator.
According to Yonhap News Agency, Trade Minister Yeo Han-koo briefed reporters on his recent visit to Washington. During the trip, he engaged in tariff negotiations with U.S. Commerce Secretary Howard Lutnick, U.S. Trade Representative Jamieson Greer, and members of the U.S. Congress. Yeo's visit took place as South Korea approaches the final three weeks of ongoing trade negotiations, following the Trump administration's announcement of imposing 25 percent reciprocal tariffs on Korean products starting August 1.
In his meetings with Secretary Lutnick, Yeo highlighted Seoul's commitment to strengthening manufacturing ties and urged the Trump administration to grant "favorable treatment" to Korean firms regarding tariffs on imported cars, steel, and other products. "The U.S. side was very interested in bilateral collaboration in the areas of shipbuilding and semiconductors, as they are crucial sectors in terms of industrial competitiveness and national security, and in how Korean companies can contribute to Washington's goal of rebuilding its manufacturing sector," Yeo stated upon returning to South Korea.
Yeo mentioned that his visit aimed to expedite trade negotiations to reach a "landing zone" within three weeks, and he plans to return to Washington for further discussions before August. He noted that the Trump administration is committed to reducing Washington's trade deficits through negotiations on tariff and non-tariff issues with its trading partners.
The Trump administration has requested greater access to the South Korean market for agriculture, automotive, digital, and service sectors during recent bilateral trade consultations. Earlier this year, the USTR released a report on foreign trade barriers, highlighting several non-tariff trade measures by Seoul, including an import ban on American beef from cattle aged 30 months or older, emission-related regulations on imported cars, proposed online platform regulations, and restrictions on the export of location-based data.
Regarding South Korea's potential involvement in the Alaska liquefied natural gas project, Yeo met with Dan Sullivan, a U.S. senator from Alaska, and agreed to continue discussions, noting the U.S. "strongly" desires Seoul's participation. When questioned about the possibility of a package deal incorporating trade and defense issues, Yeo stated that it could be considered as part of a broader framework in the future.