South Korean, US trade chiefs to hold talks over tariffs

Seoul, May 16 (IANS) South Korea's trade chief Ahn Duk-geun was set to hold talks with US Trade Representative (USTR) Jamieson Greer on Friday on the sidelines of a trade ministers' meeting of the Asia-Pacific Economic Cooperation (APEC) member economies, officials said.

The meeting to be held on South Korea's southern island of Jeju comes about three weeks after their last gathering in Washington for high-level trade consultations, where the two sides agreed to pursue a "package" deal on U.S. tariffs and economic cooperation issues by July 8.

Greer is participating in the APEC Ministers Responsible for Trade meeting on Jeju, slated to wrap up its two-day run later in the day, reports Yonhap news agency.

In the upcoming meeting, Ahn is expected to discuss follow-up measures to the Washington agreement, hoping to develop a more detailed framework for further trade negotiations with U.S. President Donald Trump's administration.

Last month, Seoul and Washington agreed to focus their talks on four categories -- tariff and non-tariff measures, economic security, investment cooperation and currency policies.

South Korea has been seeking to get a reduction or exemption from U.S. tariffs, including 25 percent reciprocal duties, which have been suspended for 90 days.

On Thursday, Greer also sat down with South Korean Trade Minister Cheong In-kyo to discuss pending trade issues between the two sides and the progress of Washington's trade negotiations with other countries, according to Cheong's office.

Earlier in the day, Greer met with executives of HD Hyundai Heavy Industries Co. in Jeju to discuss bilateral cooperation in shipbuilding.

Shipbuilding cooperation is one of the key agenda items of the Seoul-Washington trade negotiations amid the Trump administration's push to rebuild America's shipbuilding sector. South Korea is a global leader in the shipbuilding industry.

Last month, U.S. Secretary of the Navy John Phelan visited South Korea to tour HD Hyundai Heavy Industries' Ulsan headquarters and Hanwha Ocean's Geoje shipyard.

In an exclusive written interview with Yonhap News Agency following his trip, Phelan said the U.S. Navy welcomes further collaboration with South Korean shipyards as part of a broader effort to revitalise America's maritime industrial base.

—IANS

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