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S. Korean trade minister meets with US Congress officials for talks on trade, cooperation
South Korea's new trade minister has held talks with officials from the US Congress and the White House in Washington to discuss trade issues and ways to enhance bilateral cooperation, Seoul's industry ministry said Thursday.
Trade Minister Yeo Han-koo, currently on a weeklong trip to Washington, met with Rep. Jason Smith (R-MO), chair of the US House Committee on Ways and Means; Rep. Adrian Smith (R-NE), head of the trade subcommittee of the committee; and Rep. Carol Miller (R-WV) on Wednesday, according to the Ministry of Trade, Industry and Energy.
In the meetings, Yeo called for US Congress' efforts to create "stable" and "predictable" business for Korean companies in the course of handling the proposed tax bill by President Donald Trump's administration, which is expected to have a huge impact across markets and the economy.
The bill, dubbed the "One Big Beautiful Bill Act," contains amendments to reduce tax credits for electric vehicles and others under the Inflation Reduction Act, which also applies to Korean exporters.
Yeo called for efforts to promote a mutually beneficial relationship between the two countries amid mounting uncertainties regarding the Trump administration's tariff and industry policies, according to his office.
The Korean trade minister has been visiting the US capital since Sunday to hold trade talks with his US counterparts on tariffs, non-tariff measures and other issues, marking his first official visit to the US since taking office earlier this month.
On Monday, Yeo met with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick to convey Seoul's position on the Trump administration's tariff measures.
In May, Seoul and Washington agreed to craft a package deal on tariff and other trade issues by July 8, when the 90-day suspension of US reciprocal tariffs, including 25 percent duties for South Korea, will end.
The Seoul government has been working to negotiate with the Trump administration to get a full exemption or reduction of the reciprocal tariffs, as well as sectoral duties, including 50 percent tariffs on steel imports and 25 percent tariffs on car imports.
Yeo has vowed to speed up trade negotiations with Washington to achieve a "pragmatic" and "mutually beneficial" deal between the two countries. (Yonhap)
