South Korea's trade minister says Seoul has issued a request for the U.S. to launch talks on revising U.S. steel tariffs implemented during the previous Donald Trump administration.

Speaking on his meeting with U.S. Trade Representative(USTR) Katherine Tai in Seoul last Friday, Minister Yeo Han-koo on Monday said he called for the revision amid rising demand in the U.S. for high-quality South Korean steel products and increased investments by South Korean firms.

In 2018, the U.S. had enforced import tariffs of 25 percent on European steel, while waiving them for South Korean products under an annual quota of two-point-63 million tons, or 70 percent of Seoul's average export volume.

Seoul has pushed for the two sides to revise the terms, after Washington recently lifted or launched talks to change the tariffs for European and Japanese steel products.

The minister also delivered Seoul's concerns over Washington's recent call for South Korean chipmakers to share information on their global supply chains.

At Friday's ministerial meeting, the two sides agreed to set up a new channel of communication to effectively address emerging issues in the areas of supply chains, emerging technologies and the digital ecosystem.