Jeju: South Korea's trade chief Ahn Duk-geun was set to hold talks with U.S. Trade Representative Jamieson Greer on Friday on the sidelines of a trade ministers' meeting of the Asia-Pacific Economic Cooperation (APEC) member economies, officials said. The meeting, taking place on South Korea's southern island of Jeju, follows their recent discussions in Washington, aimed at reaching a "package" deal on U.S. tariffs and economic cooperation issues by July 8.
According to Yonhap News Agency, the meeting comes three weeks after the high-level trade consultations in Washington where both sides agreed on four focal areas: tariff and non-tariff measures, economic security, investment cooperation, and currency policies. Ahn intends to discuss follow-up measures to the Washington agreement, with hopes of developing a more detailed framework for further trade negotiations with the Trump administration.
South Korea is seeking a reduction or exemption from U.S. tariffs, including the 25 percent reciprocal duties, which have been temporarily suspended for 90 days. On Thursday, Greer met with South Korean Trade Minister Cheong In-kyo to discuss ongoing trade issues and the progress of Washington's trade negotiations with other countries, as noted by Cheong's office.
Earlier, Greer also met with executives of HD Hyundai Heavy Industries Co. in Jeju to deliberate on bilateral cooperation in shipbuilding. This cooperation is a key aspect of the Seoul-Washington trade negotiations amidst the Trump administration's initiative to strengthen America's shipbuilding sector. South Korea remains a global leader in the shipbuilding industry.
Last month, U.S. Secretary of the Navy John Phelan visited South Korea to tour HD Hyundai Heavy Industries' Ulsan headquarters and Hanwha Ocean's Geoje shipyard. In a written interview with Yonhap News Agency after his visit, Phelan expressed the U.S. Navy's interest in further collaboration with South Korean shipyards as part of broader efforts to revitalize America's maritime industrial base.