U.S. President Donald Trump speaks throughout a joint session of Congress on the Capitol in Washington, D.C., March 4. AP-Yonhap
Pressures are rising for Korea to take part in a pure fuel pipeline mission in Alaska led by the Donald Trump administration, amid ongoing negotiations on the U.S. tariff scheme.
In his handle to Congress on Tuesday (U.S. time), Trump pressured that Korea, Japan and others want to be companions within the Alaska liquefied pure fuel (LNG) mission.
His remarks got here a number of days after Korean Trade Minister Ahn Duk-geun expressed Seoul’s intention whereas assembly along with his U.S. counterpart, Secretary of Commerce Howard Lutnick, and Secretary of Inside and Nationwide Vitality Dominance Council Chairman Doug Burgum, in addition to different officers.
Ahn visited Washington final week for negotiations on the Trump administration’s plan to impose 25 % tariffs on all metal and aluminum imports, and introduce reciprocal tariffs, in addition to the USA‘ ongoing consideration of recent duties on vehicles, chips and prescription drugs.
The Alaska LNG mission goals to construct a virtually 1,300-kilometer pipeline from Alaska’s huge North Slope to its ern port in Nikiski.
The estimated multi-billion-dollar mission is reportedly focused at exporting LNG to Asian international locations, corresponding to Korea and Japan.
Japan and Korea are respectively the world’s second- and third-largest LNG importers.
Japan and the U.S. have reportedly been discussing forming a three way partnership for the Alaska LNG mission, with the subject being mentioned throughout a summit between Japanese Prime Minister Ishiba Shigeru and Trump final month.
Nonetheless, Seoul’s supply to hitch the Alaska mission got here as it’s thought of a distinguished bargaining chip for Korea, which has been going through mounting strain to sharply scale back its commerce surplus with the U.S. with a view to keep away from the U.S.‘ new „reciprocal“ tariffs.
Korea posted a commerce surplus of $55.7 billion with the U.S. final yr.
Trump has apparently upped the ante, if not dashing Seoul’s hopes, claiming that Seoul’s common tariff on U.S. exports is 4 occasions larger than that the U.S. imposes on Korean exports to the U.S.
Korea mentioned earlier that its common tariff charge on imports from the U.S. stood at 0.79 % in 2024, with the speed set to drop additional this yr in accordance with an annual tariff discount plan stipulated within the Korea-U.S. free commerce settlement (FTA) that went into impact greater than a decade earlier in 2013.
Earlier this week, Ahn advised reporters that he has proposed Korean shipbuilders can manufacture icebreakers for the U.S. on a preferential foundation in his Washington conferences, an apparently determined try and appease the U.S. and maintain it from wanting into potential reciprocal tariffs on Seoul.
Seoul has additionally supplied such remedy of U.S. orders for warships and tankers, which the U.S. welcomed, in accordance with Ahn. (Yonhap)
