South Korea Won’t Oppose Trump’s Tariffs, Says Acting President
South Korea Seeks Cooperation Over Retaliation Amid US Tariffs
In a recent interview with the Financial Times, Acting President Han Duck-soo of South Korea announced that the country will not retaliate against newly imposed US tariffs. Han emphasized the historical debt that South Korea owes to the United States and expressed a desire to approach upcoming trade talks with the Trump administration in a spirit of cooperation rather than confrontation.
This stance comes at a crucial time for US-South Korea relations, with new tariffs and global trade tensions threatening to strain the alliance between the two countries. Despite the imposition of tariffs by the Trump administration, Han highlighted the importance of the US in shaping South Korea’s development after the Korean War, citing aid, technology transfer, investments, and security assurances as key factors in the country’s success.
The US recently announced a 25% tariff on South Korean goods, which surprised many in Seoul and raised concerns about the future of the existing free trade agreement between the two countries. The tariffs target key sectors of the South Korean economy, including automotive, chipmaking, and pharmaceutical industries.
Han acknowledged the need to address the trade imbalance between the two countries and signaled a willingness to discuss solutions that benefit both parties. Measures being considered include increased purchases of American liquefied natural gas and commercial airliners, as well as expanded cooperation in sectors like naval shipbuilding.
In addition to tariffs, non-tariff barriers in South Korea have been a point of contention for US officials, who argue that they disadvantage American companies. Han expressed a willingness to address these concerns in negotiations, noting that broader trade liberalization would ultimately benefit the Korean people.
Overall, Han’s message of seeking cooperation over retaliation in the face of US tariffs reflects South Korea’s commitment to maintaining a strong and mutually beneficial relationship with its long-standing ally.
