SEOUL (Reuters) -South Korea’s top trade negotiator said on Sunday he would raise concerns about potential U.S. restrictions on chipmakers in China when he meets U.S. officials in Washington this week for the third round of technical discussions in tariff talks. “I will pass on the concerns among those in the industry and take utmost […]
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South Korea to raise concerns to US over potential curbs on chipmakers’ China operations
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SEOUL (Reuters) -South Korea’s top trade negotiator said on Sunday he would raise concerns about potential U.S. restrictions on chipmakers in China when he meets U.S. officials in Washington this week for the third round of technical discussions in tariff talks.
“I will pass on the concerns among those in the industry and take utmost care,” South Korean Trade Minister Yeo Han-koo told reporters before leaving for Washington, when asked to comment about concerns the U.S. may adopt policies to make it difficult for foreign chipmakers to operate in China.
Yeo also said Seoul may not stick to the July deadline, suggesting talks may continue beyond July 8 amid political and economic uncertainties in the U.S.
South Korea, currently subject to a blanket 10% tariff with a 25% country-specific duty on pause for 90 days, agreed with the U.S. in their opening round of trade talks in late April to craft a trade deal reducing tariffs by July 8.
Yeo was appointed to the role this month by President Lee Jae Myung, who won a snap election on June 3 and said during his campaign that there was no need to rush into a trade agreement with the United States.
On Sunday, Yeo added he would reach out to officials at the White House and the U.S. Congress to discuss various trade issues, including Washington’s request for South Korea to loosen rules on imports of U.S. beef.
(Reporting by Cynthia Kim; Editing by Jamie Freed)