Seoul's Industry Ministry said that the South Korean industry minister asked for a tariff exemption during talks with U.S. officials, while Washington is moving forward with plans to implement new tariffs.

Ahn Duk Geun met with U.S. Trade Representative Jamieson Greer, U.S. Interior Secretary Doug Burgum met with U.S. trade representative Jamieson Greer and U.S. Commerce Secretary Howard Lutnick in Washington, this week. They discussed ways to enhance bilateral cooperation between two countries and sought tariff exemptions from President Donald Trump's administration.

Minister Ahn and Commerce Secretary Lutnick discussed the strengthening of partnerships in strategic sectors such as shipbuilding, advanced industries and advanced technologies. He also conveyed South Korean firms' concerns about the U.S. tariff measures, and requested exemptions from tariffs," said the Industry Ministry.

Seoul's Industry Ministry said that South Korea and the U.S. also agreed to establish a working level channel to discuss issues related to tariffs and cooperation in shipbuilding.

Ahn and Lutnick's meeting marked the first ministerial level trade talks between the two countries during Trump's second tenure. The meeting took place in a diplomatic vacuum, as Yoon Suk Yeol, the impeached president of South Korea who imposed martial law for a short time, was suspended from his duties.

Ahn visited Washington, D.C., earlier this week, to discuss ways of cooperating in energy and shipbuilding, and to press for an exemption from U.S. tariffs on steel.

The trip was made less than one week after the Deputy Trade Minister Park Jong Won led the largest delegation of South Korean officials to Washington since Trump's election, asking for his administration to exempt Seoul Steel and Aluminium tariffs.

South Korea, a major exporter in the world and a top trading partner of the United States has been increasingly concerned by Trump's actions.

Twenty countries, including Asia's fourth largest economy, have signed comprehensive free-trade agreements with the United States. Australia, Singapore and Japan are among the countries that have signed comprehensive free trade agreements with the United States.

The U.S. Korea Free Trade Agreement (FTA), which allows for most goods to be freely traded, has been amended by Trump to include South Korea in the 25% steel and aluminum tariff. The new tariffs will be implemented in March. Meanwhile, the U.S. President has announced that reciprocal tariffs would also take place on trading partners starting April.

In a Friday video call, South Korea's acting president and Finance Minister Choi Sang-mok urged U.S. Treasury Sec. Scott Bessent to take into account South Korea's contribution to the U.S. Economy in Washington's policies. (Reporting and editing by Muralikumar Anantharaman; Additional reporting by Jihoon Le; Reporting by Heekyong Ya;

(source: Reuters)