Hanoi: South Korea seeks to utilize areas of shipbuilding and liquefied natural gas (LNG) as leverage in upcoming tariff talks with the United States, Seoul's top diplomat said Thursday. Foreign Minister Cho Tae-yul made the remarks on the final day of his three-day trip to Vietnam this week as South Korea prepares to hold negotiations with the U.S. over Washington's reciprocal tariffs next week.
According to Yonhap News Agency, Foreign Minister Cho Tae-yul indicated that shipbuilding and LNG are areas of strategic importance, which President Donald Trump has mentioned as potential cooperation sectors. He emphasized that these sectors require collaboration from countries like South Korea and Japan, thereby providing leverage in the negotiations.
Earlier this month, President Trump discussed tariffs and potential cooperation areas, including shipbuilding and U.S. LNG purchases, with South Korean acting President Han Duck-soo. Cho highlighted that the U.S. administration seems to prioritize negotiations with certain countries and that South Korea and Vietnam have agreed to closely communicate and share negotiation outcomes with Washington.
During his visit to Vietnam, Cho met with top Vietnamese officials, including President Luong Cuong and Prime Minister Pham Minh Chinh. He conveyed concerns from South Korean companies based in Vietnam regarding the U.S. tariffs. The Trump administration had announced imposing 25 percent "reciprocal" tariffs on South Korea and 46 percent on Vietnam earlier this month, though they have since been paused.
Cho expressed hopes for Vietnam to achieve positive negotiation results with the U.S., noting the potential economic benefits for South Korea if Vietnam manages to secure favorable outcomes.