South Korea’s Industry Minister Kim Jung-kwan said Saturday that discussions with U.S. Commerce Secretary Howard Lutnick had deepened mutual understanding but fell short of producing a concrete outcome.
“Both sides were able to better understand each other’s positions, but further dialogue will be needed,” Kim told reporters after meeting Lutnick for more than two hours at the U.S. Commerce Department in Washington.
Kim said no final decision had been made on whether the United States would proceed with raising tariffs on South Korean exports, adding that negotiations remain ongoing.
The talks followed renewed pressure from U.S. President Donald Trump, who last week warned that tariffs on Korean products — including automobiles, timber and pharmaceuticals — could be raised back to 25 percent if South Korea fails to pass legislation supporting pledged U.S. investment.
Kim visited Washington earlier this week to urge the United States not to reinstate higher tariffs, emphasizing Seoul’s commitment to implementing bilateral trade agreements and advancing a proposed special law aimed at facilitating Korean investment in the United States.
South Korea’s industry ministry said the two sides agreed that investment projects under the proposed legislation should be mutually beneficial to both economies, though it acknowledged that additional discussions would be required.
Kim said further consultations will continue via video conference after his return to Seoul, marking the end of his U.S. visit.
reporter
Candice Kim
candicekim1121@ajupress.com
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