Meeting with Former Trade Negotiation Chiefs and Vice Foreign Ministers
Choi: “Thorough preparation to navigate the turbulent trade waters”
Choi Sang-mok, acting president and deputy prime minister and minister of strategy and finance, spoke at a luncheon meeting with experts on U.S. trade policy held at the Government Complex Seoul on the 27th.
Choi met with U.S. trade experts to discuss response strategies to changes in U.S. tariff policies.
At this meeting, Choi gathered past leaders of U.S. negotiations, including former Trade Negotiation Chiefs Kim Jong-hoon, Park Tae-ho, Yoo Myung-hee, and former Vice Foreign Ministers Lim Sung-nam and Lee Tae-ho.
During the meeting, it was noted that “the ultimate goals of the new U.S. administration are the revitalization of manufacturing, strengthening border security, and reducing defense costs.” They added, “Because crisis and opportunity factors coexist, understanding U.S. policy directions precisely and responding systematically may prevent significant disadvantages.”
Considering President Donald Trump’s negotiation style, they advised against hastily engaging in U.S. negotiations, suggesting instead to observe the trends of major countries like the European Union (EU) before entering timely negotiations. They also recommended that “the government, together with businesses, prepare a comprehensive trade package with the U.S.” and that “beyond passive responses, it may be worth considering ways to expand the scope of cooperation when preparing the package.”
Experts diagnosed that Korea does not seem to be included as a major target country in the recent series of U.S. tariff strengthening measures. They also suggested that preparation is necessary in the digital sector, where the U.S. shows considerable interest.
Choi acting President mentioned, “The new Trump administration is announcing and unfolding trade policies more swiftly than in the first term,” and emphasized that “by continuously communicating with experienced trade negotiation experts, we will thoroughly prepare to navigate through ‘turbulent trade waters.'”