South Korea’s top trade negotiator is set to begin talks with the US this week, as the Trump administration’s steep 25 percent tariff on imports from Korea is set to go into force on Wednesday.

Trade Minister Cheong In-kyo will visit Washington, DC on Tuesday for a two-day trip to meet with key Trump administration officials, including US Trade Representative Jamieson Greer, according to the Ministry of Industry, Trade and Energy on Monday.

Cheong’s trip comes after US President Donald Trump announced sweeping “reciprocal" tariffs against countries with which the US has higher trade deficits, including a hefty 25 percent duty on Korean goods, which is to take effect Wednesday.

Among the countries that have free trade agreements with the US, Korea was slapped with one of the highest levies, along with Canada and Mexico.

Cheong plans to get a clearer understanding of the Trump administration's stance and its plans on reciprocal tariffs and will discuss with the aims to lower the 25 percent duty on Korean goods, according to the ministry.

Cheong will relay concerns about the potential effect the tariffs will have on the global trade environment and on the trade and investment relationship between Seoul and Washington. The minister is set to discuss ways to minimize the negative impact the tariffs will have on South Korean companies.

“We are facing a grave situation as difficulties are expected for companies exporting to the US and our companies’ activities in the US due to the April 2 country-specific tariffs and tariffs on individual items in steel, aluminum, automobile and auto parts,” Cheong said in a statement. “We will continue close communication with the US, including through this visit to the US, and make utmost efforts to engage in consultations with the US to minimize the impact of the US tariff policy, including the country-specific tariffs, on our industry and businesses.”

Trump’s tariff announcement has slammed global markets and raised fears of a potential recession. Countries around the world are scrambling to respond, with over 50 countries having reached out to the Trump administration to negotiate the removal of the tariffs, according to US Treasury Secretary Scott Bessent.

Cheong’s upcoming US trip will be the fifth such high-level visit from the Industry Ministry since Trump took office in January. Cheong visited in March, while Industry Minister Ahn Duk-geun visited twice and Deputy Minister Park Jong-won also visited.

The officials had requested a tariff exemption in a meeting with US counterparts, but Trump moved forward with the steep duties.

On Monday, Finance Minister Choi Sang-mok held a meeting with the ministers of foreign affairs and industry to discuss the response to Trump's tariffs and review South Korea’s strategy ahead of Cheong’s visit to Washington.

Choi said the government will push for an extra budget to tackle trade risks and other pending economic issues.

“We need to analyze the broader macroeconomic impact (on the reciprocal tariffs) and prepare support measures for sectors that require urgent attention,” Choi said.

He stressed the importance of closely working with the National Assembly to secure a supplementary budget to respond to trade risks, strengthen the country’s competitiveness in artificial intelligence and provide financial support to small businesses.

Earlier last week, Choi proposed a 10 trillion won ($6.8 billion) supplementary budget focusing on three key policy areas: wildfire recovery, strengthening Seoul’s competitiveness in trade policy and AI and improving people’s livelihoods and boosting domestic demand.

By Ahn Sung-mi (sahn@heraldcorp.com)