South Korea requests exclusion from US plan to increase tariffs
SEOUL, SOUTH KOREA — South Korean officials have asked the Trump administration to exclude their country from U.S. plans to impose aggressive tariffs on trade partners, emphasizing that Seoul is already applying low duties on American products under the free trade agreement between the two nations. South Korea’s government on Friday said Deputy Trade Minister Park Jong-won made the request while traveling to Washington this week for meetings with unspecified officials from the White House, the Department of Commerce and the Office of the U.S. Trade Representative. The South Korean Trade Ministry didn’t say what Park heard from the Americans. Park cited how South Korean companies were contributing to the U.S. economy through large-scale business investments and noted that the country was already imposing low duties on free trade partners such as the United States. He called for South Korea to be excluded from U.S. plans to establish reciprocal tariffs with trade partners and raise duties for imported steel and aluminum, the ministry said. South Korea’s top economic think tank this month slashed its growth …
