South Korea's trade chief is promising an all out effort to win an exemption from proposed U.S. tariffs on imported autos.
Trade Minister Kim Hyun-chong told a briefing Monday that this effort will be made based on the revised Korea-U.S. free trade agreement(FTA) which has already reflected Washington's concerns related to the automobile sector.
Kim said the timing and measures of the U.S. report on auto tariffs concerning Section 232 of the Trade Expansion Act will be affected by its negotiations held with other major countries, including Japan, Canada and the European Union.
The minister said it will report to parliament on Tuesday results of the FTA renegotiation with the U.S. and will request its ratification.
He hoped the parliament will approve the deal so that bilateral trade relations can be stably managed.
Kim said his trade team has been monitoring the latest developments in U.S. trade talks with Canada and Mexico to project its potential impact on Seoul's efforts to gain relief from auto tariffs.
He said he will consider all factors comprehensively before entering negotiations with the U.S.
Kim said the issue of auto quotas was not raised during dialogue between the two countries in New York including Presidents Moon Jae-in and Donald Trump's summit meeting but Moon did ask for an exemption.