Steel Quotas On Agenda in Korea During USTR Visit
U.S. Trade Representative Katherine Tai and Deputy USTR Sarah Bianchi stressed the importance of rapidly resolving trade concerns when they arise through the U.S.-Korea Free Trade Agreement, and talked about the president's vision for a new economic framework in the…
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Indo-Pacific when they talked with Korea's trade minister, Yeo Han-koo. They agreed to communicate better to support trade facilitation, and to deal with supply chain challenges, emerging technologies and digital trade. According to the U.S. summary of the visit, Tai talked about the challenge posed by market-distorting excess capacity in steel and aluminum. According to the Korea Herald, quoting the Korean trade ministry, Korea asked for the chance to change the tariff rate quotas it earlier agreed to on steel. "We once again delivered our stance and concerns regarding the Section 232 rules, and demanded that the two sides begin negotiations at an early date," the ministry said in a statement. Tai and Yeo also heard from industry representatives on supply chain resiliency and how to foster more sustainable trade.