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S. Korea to Expand Imports of US Cars, Planes

Written: 2017-01-26 15:44:35Updated: 2017-01-26 17:58:28

S. Korea to Expand Imports of US Cars, Planes

South Korea will seek to expand imports of American cars and planes in line with the President Donald Trump's "America First" policy direction. Seoul will also work to build a commont front with other countries to handle the trade friction over South Korea’s plan to deploy a U.S. THAAD antimissile battery.
 
The latest moves came during a government meeting on Thursday regarding external issues chaired by Finance Minister Yoo Il-ho.

The government will first put into motion a bilateral consultation channel with the U.S. If deemed necessary, Seoul will send a government delegation to the U.S. to discuss ways to boost cooperation in trade and investment.
 
To cope with the possibility of the U.S. slapping import regulations or designating Seoul as a currency manipulator, the government decided to reduce its current account surplus with the U.S. and expand imports of U.S. semiconductors, autos, aircraft and transportation equipment.
 
Regarding China and its apparent retaliatory actions over THAAD, the government will actively seek to expand bilateral exchanges spanning  all sectors, especially in light of the 25th anniversary this year since establishing diplomatic ties.

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