Korean gov't to prepare countermeasures for Washington's expected auto tariffs decision
- 5 years ago
정부, "미국 자동차 관세, 예단 어려워"
U.S. President Donald Trump is expected to announce his decision on whether to go ahead and impose new tariffs on cars or delay the decision another six months.
The Korean government has said...that it will prepare countermeasures for possible scenarios on Washington's decision.
Ko Roon-hee reports.
South Korea is making one last push to protect its carmakers from possible U.S. tariffs.
The nation's 1st Vice Minister of Economy and Finance, Lee Ho-seung, met with related ministries and organizations on Friday... to check up on preparations before President Trump's expected announcement.
He said it is difficult to tell what Trump will say.
"We will prepare a response as it relates to the financial market, industry and employment... based on different scenarios. In the mid to long term, the government will work to diversify export destinations and improve the competitiveness of our products in the auto industry."
He also mentioned the visit to Washington by Seoul's trade minister, Yoo Myung-hee.
She met with U.S. officials this week... to ask for an exemption from the tariffs.
Speaking to reporters on Thursday at Washington Dulles International Airport, Minister Yoo said... the Trump administration and members of Congress have positively evaluated the South Korean government's efforts so far, including the revised Seoul-Washington free trade agreement which came into force this year.
During her visit, she met with top officials, including U.S. Commerce Secretary Wilbur Ross, Trade Representative Robert Lighthizer and White House economic adviser Larry Kudlow.
In February, the U.S. Commerce Department submitted a report to the White House...on whether imported cars, pose a threat to national security... by negatively affecting American carmakers' ability to invest in future technologies.
Although the Trump administration has been reviewing tariffs of up to 25 percent on imported vehicles..., many analysts say the revised Seoul-Washington free trade agreement might have settled the possible trade disputes with South Korea in advance.
Bloomberg also reported that President Trump plans to postpone the tariff decision...and give the European Union and Japan 180 days to agree to a deal that would 'limit or restrict' auto imports into the U.S.
However, speaking to Fox Business on Thursday,... U.S. Commerce Secretary Wilbur Ross said President Trump has "many options" on auto tariffs.
Ko Roon-hee, Arirang News.
U.S. President Donald Trump is expected to announce his decision on whether to go ahead and impose new tariffs on cars or delay the decision another six months.
The Korean government has said...that it will prepare countermeasures for possible scenarios on Washington's decision.
Ko Roon-hee reports.
South Korea is making one last push to protect its carmakers from possible U.S. tariffs.
The nation's 1st Vice Minister of Economy and Finance, Lee Ho-seung, met with related ministries and organizations on Friday... to check up on preparations before President Trump's expected announcement.
He said it is difficult to tell what Trump will say.
"We will prepare a response as it relates to the financial market, industry and employment... based on different scenarios. In the mid to long term, the government will work to diversify export destinations and improve the competitiveness of our products in the auto industry."
He also mentioned the visit to Washington by Seoul's trade minister, Yoo Myung-hee.
She met with U.S. officials this week... to ask for an exemption from the tariffs.
Speaking to reporters on Thursday at Washington Dulles International Airport, Minister Yoo said... the Trump administration and members of Congress have positively evaluated the South Korean government's efforts so far, including the revised Seoul-Washington free trade agreement which came into force this year.
During her visit, she met with top officials, including U.S. Commerce Secretary Wilbur Ross, Trade Representative Robert Lighthizer and White House economic adviser Larry Kudlow.
In February, the U.S. Commerce Department submitted a report to the White House...on whether imported cars, pose a threat to national security... by negatively affecting American carmakers' ability to invest in future technologies.
Although the Trump administration has been reviewing tariffs of up to 25 percent on imported vehicles..., many analysts say the revised Seoul-Washington free trade agreement might have settled the possible trade disputes with South Korea in advance.
Bloomberg also reported that President Trump plans to postpone the tariff decision...and give the European Union and Japan 180 days to agree to a deal that would 'limit or restrict' auto imports into the U.S.
However, speaking to Fox Business on Thursday,... U.S. Commerce Secretary Wilbur Ross said President Trump has "many options" on auto tariffs.
Ko Roon-hee, Arirang News.