The trade ministry announced on Saturday ( Mar 15 ) that South Korea’s trade minister has requested from his US counterpart to exempt the nation from reciprocal tariffs if they go into effect in April.
Trade Minister Cheong In-kyo met with US Trade Representative Jamieson Greer this year, and the statement from the government stated that the country may not receive unfavorable care.
Donald Trump, president of the United States, has announced mutual taxes on all US trading colleagues starting on April 2.
Trump criticized South Korea earlier this month for imposing higher taxes. He claimed that the taxes for the US Asian ally were four times higher than those for the US.
Seoul has refuted this. Because the two places have a free trade agreement, South Korea’s efficient tax rate on US imports was 0.79 percent in 2024, according to the South Korean government.
According to the business government,” Both sides shared the view that they will remain discussions to find creative and useful progress on price and non-tariff measures in the future.”
Choi Sang-mok, South Korea’s acting president, ordered the state to more actively communicate with the US leadership to resolve any misunderstandings over taxes. He claimed Trump’s America First laws targeted Seoul.