Trade chief vows to protect Korea's interests through consultations with US over USTR probe

Korea's top trade negotiator vowed Thursday continued efforts to safeguard Seoul's trade interests, after Washington announced a trade probe into 16 economies to uncover "unfair" trade practices. Trade Minister Yeo Han-koo made such a remark in a press briefing held after the office of the U.S. Trade Representative (USTR) announced an investigation into Korea, China, Japan and 13 other economies under Section 301 of the 1974 Trade Act to identify "unfair" trade practices related to "structural" excess capacity and production. "The government will closely consult with the U.S. side so as to not harm the balance of profits secured through the Korea-U.S. tariff agreement and secure treatment no less favorable than that granted to other major countries in the course of the U.S. inquiry," Yeo said. The minister said the USTR office has officially notified the opening of a probe to the Korean government, explaining that Washington's move appears to be aimed at restoring trade-related measures it had imposed on partners before the U.S. Supreme Court struck down U.S. President Donald Trump's "rWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times