In a bid to protect its exports from an impending 25 percent tariff, South Korea is preparing for crucial trade discussions with the United States by emphasizing its influential shipbuilding sector. With a reputation as the world’s second-largest shipbuilder, South Korea aims to present its maritime expertise as a bargaining chip to help alleviate potential tariffs imposed by the Trump administration on its automotive and manufacturing exports, including those from Hyundai and Kia.
South Korea Leverages Shipbuilding Industry Ahead of Trade Talks with U.S.
South Korea Leverages Shipbuilding Industry Ahead of Trade Talks with U.S.
As tariffs loom, South Korea seeks to strengthen its negotiating position by showcasing its shipbuilding capabilities.
The South Korean government believes that aligning itself with President Trump's ambition to revitalize American shipbuilding could foster collaborative opportunities, potentially resulting in including bilateral agreements that benefit both nations. South Korea's trade and industry minister, Ahn Duk-geun, expressed confidence that shipbuilding will be an essential aspect of the negotiations, allowing Seoul to approach talks with a competitive edge.
Finance Minister Choi Sang-mok is set to meet with U.S. Treasury Secretary Scott Bessent in Washington to discuss key issues, aiming to navigate away from confrontational tactics similar to those adopted by China and Europe. South Korea's focus on dialogue rather than retaliation echoes its longstanding alliance with the U.S. and its hope for mutually beneficial trade agreements in challenging times.
Finance Minister Choi Sang-mok is set to meet with U.S. Treasury Secretary Scott Bessent in Washington to discuss key issues, aiming to navigate away from confrontational tactics similar to those adopted by China and Europe. South Korea's focus on dialogue rather than retaliation echoes its longstanding alliance with the U.S. and its hope for mutually beneficial trade agreements in challenging times.
