Seoul: The South Korean government has been communicating with the United States on the latter's plan to impose new tariffs as part of efforts to reduce uncertainties for domestic industries, Seoul's trade minister said Thursday.
According to Yonhap News Agency, Trade Minister Cheong In-kyo made the remarks during a meeting with the heads of major local think tanks. The meeting was organized to discuss Seoul's strategy in response to the protectionist trade policies being pursued by U.S. President Donald Trump.
The meeting saw participation from the chiefs of nine research institutes, including those affiliated with major companies such as Samsung Group, Hyundai Motor Group, POSCO Group, and LG Group.
Thursday's discussions come amid growing concerns regarding the U.S. government's plans to impose tariffs on a variety of goods from other countries. These goods include steel, aluminum, and automobiles, with potential reciprocal tariffs affecting the U.S.' key trading partners.
Cheong emphasized the importance of maintaining communication channels with the U.S. to address the implementation of its trade measures. He urged for stronger cooperation between the government and think tanks to formulate an effective response strategy.
In related efforts, South Korea's Deputy Trade Minister Park Jong-won is currently in Washington to engage with U.S. government officials. His visit aims to discuss the impacts of Trump's trade policies on Korean industries.