President Moon Jae-in on Monday called on the government to respond to US trade protectionism and unfair demands with confidence, and to highlight such elements in dealings with the US.
President Moon Jae-in speaks at the meeting with senior aides in Seoul on Monday. Yonhap
“Recently, (US) protectionism is being strengthened on top of unstable exchange rates and oil prices,” Moon said at a weekly conference with senior aides on Monday. Citing US regulations on South Korea steel, electronics and solar power-related products, Moon said that concerns for such products’ exports are rising. Moon‘s remarks came after the US imposed an import tariff of up to 50 percent on large washing machines from South Korea, while similar measures on South Korean steel are in the works.
“(The government) should actively state unfair (elements) in the Korea-US Free Trade Agreement amendment negotiations, and respond to irrational protectionist measures by considering taking the matter to the WTO, and reviewing (whether a measure) violates the Korea-US FTA.”
Despite Seoul’s position that the pact is mutually beneficial, the Donald Trump administration has pushed for its revision, and the two sides are currently engaged in revising the pact.
In addition to what Seoul views as unfair trade conditions, US President Donald Trump has claimed that GM Korea’s decision to shut down one of its South Korean facilities was GM moving “back to Detroit” due to his administration’s policies.
Later in the day, a top Cheong Wa Dae official revealed that Moon considers disparity in South Korean and US regulations with regards to the Korea-US FTA unfair.
Speaking on condition of anonymity, a high ranking Cheong Wa Dae official told reporters that Moon considered the differences in the two countries’ laws unfair.
“The president considers the pact to be unfair as, in Korea the (Korea-US) FTA precedes all laws, but in the US, the deal can be revised according to federal laws,” the official said, adding that Moon has held the view “for some time.”
The official also said that Moon considers trade and national security issues independently of each other, and that he would deal with the matters accordingly.
By Choi He-suk (
cheesuk@heraldcorp.com)
