South Korea Seeks Exemption from US Tariffs

South Korea's acting President Choi Sang-mok and U.S. Treasury Secretary Scott Bessent discussed tariffs, investments, and forex policies. Choi urged Washington to consider South Korea's economic contributions amid concerns over U.S. tariffs. Seoul seeks exemptions from steel and aluminium tariffs in ongoing high-level negotiations.

In an important video call, South Korea's acting President and Finance Minister Choi Sang-mok and U.S. Treasury Secretary Scott Bessent tackled crucial economic issues including tariffs and forex policies. The discussions come amid rising tensions over trade policies.

Choi explicitly requested Bessent to acknowledge South Korea's significant contributions to the U.S. economy. This plea is grounded in apprehensions over President Donald Trump's tariff policies, which Seoul fears could impact South Korea's role as a major global exporter and steady U.S. trading partner.

Amid these concerns, South Korea has intensified its diplomatic efforts, with officials recently visiting Washington to request exemptions from newly imposed steel and aluminium tariffs, signaling the high stakes these negotiations hold for both nations.

(With inputs from agencies.)