South Korea trade minister says considering measures to boost US imports

South Korea's trade minister said on Tuesday that the government has been considering measures to increase imports from the United States as he headed to Washington to negotiate over U.S. tariffs.

Minister Cheong In-kyo, who will meet U.S. Trade Representative Jamieson Greer, said it was good news ahead of his visit that President Donald Trump said the door was open for talks over tariffs with nations other than China.

"It is difficult to reduce exports, so shouldn't we then increase (U.S.) imports? In that regard, we have been reviewing many different packages of measures to resolve the trade balance problem," Cheong said, before flying to Washington.

He noted that the government had had internal discussions about increasing LNG imports from the United States.

Cheong added he will dispute Washington's calculation of its 25% tariff on South Korea, which he called "problematic" given the two countries' existing free trade pact.

Trump also announced a 46% duty for Vietnam, where major South Korean conglomerates like Samsung and LG manufacture products. That will deal a "huge blow" to South Korean exporters with production bases there, Finance minister Choi Sang-mok said on Tuesday.

South Korea's Foreign Ministry also said on Tuesday that it is in close communication through diplomatic channels to make happen a timely call between Trump and South Korea's acting president Han Duck-soo. 

Reuters