Photo : YONHAP News
With the U.S. set to impose reciprocal tariffs April 2, a senior White House official has identified South Korea as one of the countries with which the United States is seeing “persistent” trade deficits and has called for the removal of nontariff barriers. National Economic Council Director Kevin Hassett made the remarks Monday in an interview with CNBC. Hassett said U.S. trade deficits with South Korea, China and Europe have persisted for several years, attributing the situation to high tariffs and nontariff barriers. He continued that if the United States’ trading partners lower all barriers immediately, the negotiations will be over, adding that U.S. President Donald Trump is very flexible and the U.S. expects many countries to respond positively to negotiations. But the official said many countries will not do so and tariffs will be imposed in those cases.
Last year South Korea recorded a trade surplus of 55-point-seven billion dollars with the U.S., placing this country at No. 8 on the list of U.S. trading partners that contribute to its trade deficit.