WASHINGTON – Ambassador Katherine Tai today met with South Korea’s Minister for Trade Yeo Han-koo.
Ambassador Tai and Minister Yeo discussed the ongoing cooperation between the two countries on the United States-Korea Free Trade Agreement (KORUS), and the need to address global supply chain issues. Ambassador Tai noted the importance of using KORUS to strengthen the economic, investment, and trade relationship between both countries. She urged Minister Yeo to convey her desire to convene the KORUS Labor and Environment Councils soon to discuss shared priorities on these critical issues.
They two also agreed to work together to strengthen supply chains and promote resiliency, both to recover from the pandemic and promote economic growth worldwide.
Ambassador Tai emphasized the challenges of global overcapacity driven by non-market practices and ongoing strong concerns of U.S. stakeholders, as the United States focuses on existing conversations to develop a global arrangement that addresses the carbon intensity of steel and aluminum trade.
Ambassador Tai also provided an update on the Indo-Pacific Economic Framework to advance President Biden’s vision of a region that is open, connected, resilient and secure.
Ambassador Tai and Minister Yeo agreed to stay in frequent communication on these issues and pledged to continue to strengthen this important bilateral trade relationship.