U.S. industry feeling impact of Japan's export curbs against S. Korea: Trade minister
- 5 years ago
유명희 "美업계, 日수출규제 영향 체감 시작... 조속해결 필요 지적"
South Korea's trade minister says American firms are showing strong support to South Korea amid Seoul-Tokyo trade tensions... saying they're starting to feel the impact of Japan's export curbs against South Korea themselves.
Her remarks come following her trip to Washington... where she discussed the issue with key figures from the U.S. government.
Oh Jung-hee has our top story.
U.S. industries have been dealt a blow by Japan's export restrictions on South Korea... and are calling for the trade spat to be resolved quickly.
That's according to South Korea's Trade Minister Yoo Myung-hee, who visited Washington last week and met with key trade-related officials.
"I stressed that Japan's export curbs will hurt not only Korea and Japan but the whole world, including American companies,... through the global supply chain. This could shake up the international trade order and weaken coordination among Korea, Japan and the U.S. on regional security."
Minister Yoo said... officials from the U.S. government and Congress including Commerce Secretary Wilbur Ross showed understanding and said they'll work with Seoul.
But what was noteworthy, according to the minister, was the response from U.S. industry.
American companies had been silent since Japan's announcement, but they sent a letter to Seoul's trade minister, saying they've started to feel the impact.
"It was not only the U.S. semiconductor and IT industries that took part in writing that letter, but also the manufacturing sector. The letter claimed that Japan's unilateral change in export policy could cause confusion in the global supply chain and deal a blow to overall industry in the long term. They pointed out that there needs to be a quick resolution."
The Trade Minister said, South Korea is always ready to meet with Japan.
Seoul had proposed that the trade ministers of the two countries meet on the sidelines of the Regional Comprehensive Economic Partnership meeting later this week, but Tokyo turned that down.
Japanese media are reporting that Tokyo will decide whether to take Seoul off its export whitelist on August 2nd,... and the minister said Seoul is getting ready for all possible scenarios.
Oh Jung-hee, Arirang News.
South Korea's trade minister says American firms are showing strong support to South Korea amid Seoul-Tokyo trade tensions... saying they're starting to feel the impact of Japan's export curbs against South Korea themselves.
Her remarks come following her trip to Washington... where she discussed the issue with key figures from the U.S. government.
Oh Jung-hee has our top story.
U.S. industries have been dealt a blow by Japan's export restrictions on South Korea... and are calling for the trade spat to be resolved quickly.
That's according to South Korea's Trade Minister Yoo Myung-hee, who visited Washington last week and met with key trade-related officials.
"I stressed that Japan's export curbs will hurt not only Korea and Japan but the whole world, including American companies,... through the global supply chain. This could shake up the international trade order and weaken coordination among Korea, Japan and the U.S. on regional security."
Minister Yoo said... officials from the U.S. government and Congress including Commerce Secretary Wilbur Ross showed understanding and said they'll work with Seoul.
But what was noteworthy, according to the minister, was the response from U.S. industry.
American companies had been silent since Japan's announcement, but they sent a letter to Seoul's trade minister, saying they've started to feel the impact.
"It was not only the U.S. semiconductor and IT industries that took part in writing that letter, but also the manufacturing sector. The letter claimed that Japan's unilateral change in export policy could cause confusion in the global supply chain and deal a blow to overall industry in the long term. They pointed out that there needs to be a quick resolution."
The Trade Minister said, South Korea is always ready to meet with Japan.
Seoul had proposed that the trade ministers of the two countries meet on the sidelines of the Regional Comprehensive Economic Partnership meeting later this week, but Tokyo turned that down.
Japanese media are reporting that Tokyo will decide whether to take Seoul off its export whitelist on August 2nd,... and the minister said Seoul is getting ready for all possible scenarios.
Oh Jung-hee, Arirang News.