Overview
- South Korea has formally requested an exemption from U.S. President Donald Trump's proposed tariffs on steel, aluminum, and other imports.
- Deputy Trade Minister Park Jong-won met with U.S. officials in Washington, emphasizing South Korea's low tariffs on U.S. goods under their free trade agreement.
- South Korean companies have invested over $21.5 billion in U.S. projects in recent years, including major ventures in semiconductors, electric vehicles, and clean energy manufacturing.
- South Korea's economic growth forecast for 2025 was revised down to 1.6% due to concerns about the potential impact of U.S. trade measures.
- Acting President Choi Sang-mok is coordinating efforts to engage with U.S. officials and mitigate potential damage to South Korea's economy.