SEOUL (Reuters) – South Korea will prepare support measures for agricultural and food exporters, while closely monitoring the impact of U.S. tariffs on the sector, the finance ministry said on Thursday. The United States is the biggest export market for the sector, with more growth potential expected from a boom in demand for South Korean […]
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South Korea to prepare support for food exporters to weather US tariffs
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SEOUL (Reuters) – South Korea will prepare support measures for agricultural and food exporters, while closely monitoring the impact of U.S. tariffs on the sector, the finance ministry said on Thursday.
The United States is the biggest export market for the sector, with more growth potential expected from a boom in demand for South Korean foods, the ministry said in a statement after a meeting to review government responses to U.S. tariffs.
South Korean officials travelled to Washington, D.C. this week for a second round of working-level technical discussions, with officials from the agriculture ministry included in the negotiation team.
On Wednesday, South Korea pledged more support measures for key export industries such as biopharmaceuticals and autos, as U.S. President Donald Trump’s sweeping tariffs weigh on the trade-reliant economy.
(Reporting by Jihoon Lee; Editing by Ed Davies)