SEOUL: South Korea’s top trade negotiator said on Sunday (Jun 22) he would raise concerns about potential US restrictions on chipmakers in China when he meets US officials in Washington this week for the third round of technical discussions in tariff talks.
“I will pass on the concerns among those in the industry and take utmost care,” South Korean Trade Minister Yeo Han-koo told reporters before leaving for Washington, when asked to comment about concerns the US may adopt policies to make it difficult for foreign chipmakers to operate in China.
Yeo also said Seoul may not stick to the July deadline, suggesting talks may continue beyond Jul 8 amid political and economic uncertainties in the US.
South Korea, currently subject to a blanket 10 per cent tariff with a 25 per cent country-specific duty on pause for 90 days, agreed with the US in their opening round of trade talks in late April to craft a trade deal reducing tariffs by Jul 8.
Yeo was appointed to the role this month by President Lee Jae Myung, who won a snap election on June 3 and said during his campaign that there was no need to rush into a trade agreement with the United States.
On Sunday, Yeo added he would reach out to officials at the White House and the US Congress to discuss various trade issues, including Washington’s request for South Korea to loosen rules on imports of US beef.
