South Korea to boost shipbuilding, energy cooperation with US for tariff negotiations: Trade Minister

IANS April 16, 2025 246 views

South Korea is strategically positioning itself for upcoming US trade negotiations by emphasizing cooperation in key economic sectors. Trade Minister Cheong In-kyo highlighted the importance of leveraging shipbuilding and energy partnerships to secure national interests. The 90-day tariff suspension provides a critical window for both nations to develop a mutually beneficial trade framework. Washington and Seoul are expected to engage in high-stakes discussions that could reshape their economic relationship.

"We will consolidate economic cooperation between the two countries" - Cheong In-kyo, Trade Minister
Seoul, April 16: South Korea will work to bolster its cooperation with the United States in the shipbuilding and energy sectors, Seoul's trade minister said Wednesday, ahead of upcoming negotiations over US import tariffs.

Key Points

1

South Korea strategizes trade response during 90-day US tariff suspension

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Potential LNG project in Alaska signals diplomatic opportunity

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Bilateral negotiations expected next week

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Shipbuilding and energy sectors key to talks

The government earlier said such cooperation may serve as a bargaining chip in the tariff negotiations after US President Donald Trump highlighted Seoul's interest in a multi-billion dollar liquefied natural gas (LNG) project in Alaska, Yonhap news agency reported.

"The government will put in all-out efforts to make the most of the 90-day grace period by refining our response strategy for (tariff) negotiations with an aim of securing our national interests," Trade Minister Cheong In-kyo said in a meeting with the trade policy advisory committee.

"We will consolidate economic cooperation between the two countries in shipbuilding, energy and other areas of mutual interest," he added, stressing that the US is South Korea's "most important" ally.

The Trump administration implemented its country-specific reciprocal tariff scheme, including a 25 per cent duty for South Korea, earlier in the month, only to have it suspended for 90 days hours later.

Washington has since said it will hold trade negotiations with major trading partners. Negotiations between South Korea and the US are widely expected to be held next week.

Reader Comments

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James K.
Interesting move by South Korea! Strengthening ties in shipbuilding and energy makes perfect sense given the current trade climate. Hope this leads to fair negotiations for both sides. 🤞
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Sarah L.
The 90-day grace period is crucial. I appreciate how Minister Cheong is approaching this strategically rather than reactively. Energy cooperation could be a real game changer!
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Michael T.
While I support stronger US-Korea ties, I'm concerned about using LNG projects as bargaining chips. Shouldn't energy deals stand on their own merits? Just my respectful opinion.
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Anna P.
Korea's shipbuilding industry is world-class! This could be a win-win if handled right. Fingers crossed for positive outcomes from next week's talks. 🇰🇷🤝🇺🇸
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David R.
The 25% tariff would have been brutal. Smart diplomacy to use this grace period effectively. Shows why strong trade ministers matter in these negotiations.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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Tags:
US-South Korea Trade Donald Trump Cheong In-kyo Trade Negotiations Tariffs LNG Project
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