Trump hails ‘probability of a great deal’ with South Korea after call

Trump hails ‘probability of a great deal’ with South Korea after call

US President Donald Trump said he discussed tariffs, shipbuilding and potential energy deals with South Korea's acting President Han Duck-soo.

South Korea’s acting President Han Duck-soo said he hoped to further strengthen and expand the alliance, according to the Yonhap news agency. (EPA Images pic)
SEOUL:
US President Donald Trump said he discussed tariffs, shipbuilding and potential energy deals in a “great call” with South Korea’s acting President Han Duck-soo on Tuesday, a day before a 25% tariff on the Asian ally is scheduled to kick in.

“We have the confines and probability of a great DEAL for both countries. Their top TEAM is on a plane heading to the US, and things are looking good,” Trump said.

South Korea’s trade minister is traveling to the US to meet US trade representative Jamieson Greer for negotiations over tariffs.

Han said in the phone call with Trump that he hoped to further strengthen and expand the alliance and that he was willing to cooperate to achieve a balance in trade as well as on shipbuilding and LNG, according to the Yonhap news agency.

Earlier on Tuesday, Han said in an interview with CNN that he would “clearly like to negotiate” with the US over reducing tariffs and that his country would not band together with China, Japan or other countries to retaliate.

Cheong In-kyo, minister for trade, said on Tuesday the government has been considering measures to increase imports from the US as he headed to Washington to negotiate.

Cheong also said it was good news ahead of his visit that Trump said the door was open for talks over tariffs with nations other than China.

“It is difficult to reduce exports, so shouldn’t we then increase (US) imports? In that regard, we have been reviewing many different packages of measures to resolve the trade balance problem,” Cheong said, before flying to Washington.

He noted that the government had had internal discussions about increasing LNG imports from the US.

Cheong added that he would dispute Washington’s calculation of its 25% tariff on South Korea, which he called “problematic” given the two countries’ existing free trade pact.

Trump also announced a 46% duty for Vietnam, where major South Korean conglomerates such as Samsung and LG manufacture products. That will deal a “huge blow” to South Korean exporters with production bases there, finance minister Choi Sang-mok said on Tuesday.

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