Government to ensure Korea treated no less favorably than other nations in USTR probe

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Government to ensure Korea treated no less favorably than other nations in USTR probe

Containers are stacked at Pyeongtaek Port in Gyeonggi on March 12. [YONHAP]

Containers are stacked at Pyeongtaek Port in Gyeonggi on March 12. [YONHAP]

 
The government will respond to a U.S. inquiry into trading partners to ensure that Korea is treated no less favorably compared to other major economies, Finance Minister Koo Yun-cheol said Wednesday.
 
The Office of the U.S. Trade Representative has recently launched investigations into 60 economies, including Korea, under Section 301 of the 1974 Trade Act, as the U.S. President Donald Trump administration works to roll out new tariffs to replace the reciprocal tariffs that the U.S. Supreme Court struck down last month.
 

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“While the broad framework of the U.S.-Korea agreement is expected to be maintained, the government will work closely in a joint effort to ensure outcomes are not unfavorable compared to other major competitors,” Koo said during a government meeting on economic affairs.
 
The investigation will determine whether the countries have taken sufficient steps to ban the importation of goods produced with forced labor. The countries subject to the investigations include Korea, China, Japan, India, Indonesia, Britain, Australia, Canada and Taiwan.
 
Koo said the government will establish a joint public-private response system and systematically address issues such as overproduction and forced labor at the interagency level.

Yonhap
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