US-Korea Talks Remain Unresolved Over Auto Tariff, Visa Issues
South Korea remains in talks with the US over contentious issues, including visa restrictions and auto tariffs, the Asian nation’s top trade negotiator said, underscoring the economic stakes as Seoul works to ease frictions with Washington.
Trade Minister Yeo Han-koo returned from Washington after meeting US Trade Representative Jamieson Greer and key members of Congress to press for progress in talks, he told reporters upon arriving in Incheon on Friday.
Yeo said he urged swift resolution of visa issues facing Korean workers in the US, after more than 300 employees were detained earlier this month at a battery plant under construction in Georgia. The employees were released and returned home last week, but the immigration swoop has strained ties between the two countries and cast doubt over the future of a big investment pledge South Korea made under the new trade deal reached in July.
The broad agreement set a 15% tariff on Korean goods, which was reaffirmed by their leaders at a White House summit last month. But finalizing the accord has been difficult, with the two sides divided over how to structure and implement a $350 billion investment package, which is central to the deal.
He declined to provide details, citing the sensitivity of the talks, but stressed that both sides recognize the gravity of the matter.
Uncertainty over auto tariffs also lingers as President Donald Trump has yet to sign the executive order lowering the rate to 15%. Meanwhile, the US and Japan have already ironed out their trade deal, which formed the basis for the South Korean pact, resulting in the lowering of tariffs on Japanese cars and a
Yeo said Seoul recognizes the seriousness of the issue and is making its “utmost efforts” to find a solution, emphasizing to US counterparts that Korea’s situation differs from Japan’s with supporting data and analysis. Outreach efforts will continue with lawmakers and other decision-makers in Washington, he added.
“These are matters that go directly to the national interest,” Yeo told reporters, adding that disclosing details of the talks could undermine Seoul’s efforts. “We’re doing our best with the national interest as our top priority.”
Source : Bloomberg.com
