Korea aims to actively consult with US as Washington opens new trade probe

Korea will "actively consult with" the United States to ensure that it does not receive unfair treatment, as Washington opened new trade investigations into Seoul and 15 other economies over alleged "unfair" trade practices related to excess manufacturing capacity, a senior official at Cheong Wa Dae said Thursday. The Cheong Wa Dae official made the remarks after U.S. Trade Representative (USTR) Jamieson Greer said the Trump administration published a Federal Register notice initiating an investigation under Section 301 of the 1974 Trade Act — a legal provision that allows the USTR to investigate unfair foreign trade practices on a country-by-country basis. "The government plans to actively consult with the U.S. to ensure that the balance of interests secured in the existing Korea-U.S. tariff deal is not undermined and that South Korea does not receive less favorable treatment than other major countries," the official at Cheong Wa Dae said. The USTR's announcement came as the administration is pushing to replace the invalidated country-specific "reciprocal" tariffs that were rolled ouWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times