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Trade Officials, Auto Industry Reps Discuss Potential US Tariffs

Write: 2019-02-19 14:40:24

Thumbnail : KBS News

Anchor: U.S. President Donald Trump has less than 90 days to decide whether to impose tariffs on auto imports, likely recommended by the U.S. Department of Commerce. Trade officials in South Korea met with local auto and parts manufacturers to thoroughly prepare for the worst-case scenario. 
Choi You Sun has this report. 

Report: South Korea's Deputy Trade Minister Kim Yong-rae and representatives from the auto industry discussed on Tuesday the impact of potential U.S. tariffs on the local industry. 

The meeting comes after U.S. Secretary of Commerce Wilbur Ross submitted a report to the White House on Sunday, containing his recommendations on auto imports in regards to Section 232 of the Trade Expansion Act. 

An investigation into laws that restrict imports for national security purposes was ordered by Trump last May. 

While details of the report were not released to the public, the AFP reported last Thursday that the Commerce Department had concluded that auto imports are "a threat to national security." 

Trump has until May 17th to decide whether to push ahead with the auto tariffs. 

South Korea could suffer a considerable setback if the U.S. imposes tariffs on Korean automobiles, as the auto industry accounts for 14 percent of production and 12 percent of employment in the country's manufacturing sector. 

Officials in Seoul believe South Korean automakers will most likely be exempt from the tariffs since Seoul has made concessions regarding automobiles in its recently revised free trade deal with Washington, but uncertainty remains. 

Participants at Tuesday's meeting agreed to expand communications with the U.S. Congress and government, as well as the auto industry as part of continuing efforts to win tariff exemptions. 
Choi You Sun, KBS World Radio News.

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