After the destructive Korean war, it was the United States that provided South Korea with economic assistance, technology, investment and security guarantee.
South Korea will not introduce mirror duties to American goods, as he believes he has a historical debt to the United States. This was announced by the country’s acting president Khan Dock Su in an interview with The Financial Times, published on Sunday, April 20.
“We will not answer these duties, as the United States plays a major role in making Korea the way now,” Khan said.
He remembered that after the destructive Korean war, it was the United States that provided South Korea with economic assistance, technology, investment guarantee and security – all of which created a desirable environment for foreign investors.
“Our industrial growth, the development of the financial system, the prosperity of culture and general wealth -all of which is largely with the help of the United States,” he added.
The politician also recalled that a free trade agreement was valid between Seoul and Washington, according to which South Korea hardly charges duties from American goods. However, Donald Trump said the “real” role from Seoul reached 50%.
On April 2, Trump announced the introduction of duties to import goods from 185 countries. The base rate is 10%, but for many countries – including South Korea – it reaches 25%.
On April 9, the US president postponed the use of duties for more than 75 countries in 90 days, maintaining a 10%rate for them. Trump has not announced the full list of these countries, just to keep in mind that this is the start of the negotiations in Washington.
Khan Dock Su noted that in early April there was a 28-minute “good” phone conversation with Trump. According to him, South Korea is ready to discuss the reduction in excessive trade, in particular, by buying American liquefied natural gas (LNG) and passenger aircraft.
Remember, Trump is asking to pay for Seoul’s “military protection”.
Earlier, Ministers of the Japan, China and South Korea industry discussed the free trade agreement with Seoul.
Trade zones can be free to protect against US aggressive policy
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.