Korean media: "Shipbuilding, chips, batteries" - Is this a viable bargaining chip? ... Minister of Industry and U.S. Commerce Secretary Rutnik's 80-minute negotiation

"Reaffirming the determination to reach an agreement before August 1st" ... Rutnik said before the negotiations: South Korea criticized Japan's negotiation results loudly

According to reports, on the local time of the 24th, while visiting the United States, South Korean Minister of Trade, Industry and Energy Kim Jeong-wan and Director General of Trade Negotiations Yeo Han-gyu met with U.S. Commerce Secretary Howard Lutnick, holding about 80 minutes of trade negotiations. In the case where the "2+2 trade negotiations" failed and the Deputy Prime Minister and Minister of Economic Planning and Finance Koo Woon-mo canceled his visit to the United States, Kim Jeong-wan was the highest-ranking government official visiting the United States at the moment.

During the ministerial-level negotiations between the two countries starting at 11:30 a.m. that day, Kim Jeong-wan proposed "strengthening cooperation in the shipbuilding industry" as a bargaining chip. He introduced plans for strengthening cooperation between South Korea and the United States in strategic manufacturing sectors such as shipbuilding, chips, and batteries, and strongly requested the U.S. side to consider these plans, and to ease tariffs on cars and other categories for South Korea and reciprocal tariffs. The Ministry of Industry stated: "Kim Jeong-wan and Rutnik reaffirmed their determination to reach a mutually beneficial agreement before the final deadline for deferring the reciprocal tariffs on August 1st, and decided to conduct further negotiations as soon as possible."

On the afternoon of the 23rd at 2:30 p.m., Kim Jeong-wan met with U.S. Energy Secretary Chris Wright to discuss cooperation plans between the two countries in areas such as clean energy and enhancing energy security. Kim Jeong-wan also extended an invitation to Wright, saying, "Please attend the Energy Super Week held in Busan at the end of August." On the same day, Yeo Han-gyu had a video conference with Governor Kay Ivey of Alabama, emphasizing the contributions of Korean companies to investments in the United States.

Additionally, during the period from the 24th to the 25th, Kim Jeong-wan will meet with Chairman of the U.S. National Energy Council Doug Berman (Interior Secretary), and Yeo Han-gyu will meet with USTR (Office of the U.S. Trade Representative) representative Jamison Grier, Governor Greg Abbott of Texas, and others.

Rutnik, before meeting with the South Korean delegation led by Kim Jeong-wan, gave an interview to CNBC and said: "I can hear Koreans cursing when they read the agreement with Japan (expletives)."

The host asked: "How will you persuade the South Korean companies that also have factories in the United States?" Rutnik added: "Imported (car) products, engines, and parts will also be subject to tariffs," "Although South Korean manufacturing companies produce a large number of vehicles in the United States, they need to import many things from overseas. (These categories) will be subject to tariffs."

Source: Chosun Ilbo

Original article: https://www.toutiao.com/article/1838636534594569/

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