Seoul minister urges minimal impact of US tariffs on energy cooperation

Seoul, May 30 (IANS) South Korean Industry Minister Ahn Duk-geun on Friday met visiting US lawmakers and urged measures to minimise negative impacts on bilateral cooperation in energy and supply chains from Washington's tariff scheme, his office said.

Ahn held talks with Rep. Bruce Westerman (R-AR), chair of the committee; Rep. Nick Begich (R-Alaska); Rep. Harriet Hageman (R-WY); Rep. Celeste Maloy (R-UT); and Rep. Sarah Elfreth (D-MD) in a closed-door meeting in Seoul, according to the Ministry of Trade, Industry and Energy.

The lawmakers are members of the Committee of Natural Resources in the U.S. House of Representatives, reports Yonhap news agency.

In the meeting, Ahn called for U.S. lawmakers' efforts to prevent the U.S. tariff measures from negatively affecting the two countries' collaboration in the industrial and energy sectors amid global supply chain uncertainties.

Ahn also proposed strengthening energy cooperation to address trade imbalance and energy security issues, according to the ministry.

Amid ongoing trade negotiations with Washington, Seoul has been considering expanding energy purchases from the United States to reduce its trade surplus with Washington. South Korea has been subject to 25 percent reciprocal tariffs from the U.S. since early April, though the duties have been suspended for 90 days.

The ministry plans to send a delegation, led by Deputy Minister for Energy Policy Lee Ho-hyeon, to the Alaska Sustainable Energy Conference next week to discuss bilateral cooperation in an Alaskan liquefied natural gas project, as well as nuclear power plants and renewable energies.

"To ensure stable investment by Korean companies in the U.S., it is essential that policy continuity is guaranteed, such as maintaining tax incentives under the Inflation Reduction Act (IRA) or equivalent support," Ahn told the lawmakers, according to the ministry.

—IANS

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