SEOUL, March 07 (AJP) - South Korea has dispatched its top trade officials to the United States to ease growing uncertainties over U.S. tariff policies following a recent court ruling against the International Emergency Economic Powers Act (IEEPA), the industry ministry said Saturday.
Minister of Trade, Industry and Energy Kim Jeong-gwan and Trade Minister Yeo Han-koo held talks with key U.S. counterparts on Friday to address pending bilateral trade issues and the implementation of tariff agreements.
Kim met with U.S. Commerce Secretary Howard Lutnick to share Seoul's progress in fulfilling previous tariff pacts, including discussions on enacting a special law to boost investments in the U.S. He emphasized that existing bilateral tariff agreements must be effectively guaranteed as Washington pushes forward with trade measures under Section 122 of the Trade Act and Section 232 of the Trade Expansion Act in the wake of the IEEPA ruling.
Separately, Yeo met with U.S. Trade Representative (USTR) Jamieson Greer to discuss implementation plans for non-tariff sectors. The two sides agreed to convene a U.S.-Korea Free Trade Agreement (KORUS FTA) joint committee at an appropriate time to finalize these plans.
Yeo also discussed developments regarding Sections 122 and 301 of the U.S. Trade Act. He reiterated Seoul's stance that a recent Section 301 probe petition filed by an investment firm involving e-commerce giant Coupang should not negatively impact broader bilateral trade relations.
The ministry vowed to continue friendly consultations with Washington to maintain a stable trade environment and minimize uncertainties for South Korean businesses.
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