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S. Korea's Finance Minister Calls for Exemption from US Auto Duties

Written: 2019-04-14 14:24:50Updated: 2019-04-14 14:27:19

S. Korea's Finance Minister Calls for Exemption from US Auto Duties

Photo : YONHAP News

Finance Minister Hong Nam-ki has called on the United States to exempt South Korea from new import duties on imported vehicles.

The minister made the request in a meeting with U.S.Treasury Secretary Steven Mnuchin on Saturday on the sidelines of the annual meetings of the Group of 20 finance ministers and central bank governors in Washington.

In mid-February, the U.S. Commerce Department submitted a report to President Donald Trump on its findings of a probe into whether imported vehicles pose a national security threat, which could lead the United States to impose tariffs. Trump has 90 days to decide whether to act on the findings.

According to the Finance Ministry on Sunday, Mnuchin said he fully understands what the Korean minister requested in terms of auto import tariffs and expressed hope that the issue will be resolved without difficulty, though no decision on the issue has yet been made.

The ministry said the two officials also agreed to closely communicate and cooperate regarding North Korea issues.

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