Top U.S., South Korean trade officials discuss supply chain resiliency -USTR

FILE PHOTO: U.S. Trade Representative Katherine Tai testifies before the Senate Finance Committee on Capitol Hill in Washington, U.S., May 12, 2021. Susan Walsh/Pool via REUTERS

WASHINGTON (Reuters) – U.S. Trade Representative Katherine Tai and South Korean Trade Minister Yeo Han-koo on Thursday discussed supply chain resiliency efforts, tackling climate change, and reform of the World Trade Organization, the USTR said in a statement.

In a virtual meeting, the two officials “agreed on the importance of a strong U.S.-Korea bilateral trade relationship and committed to maintaining an open dialogue moving forward,” the statement added.

It gave no other details

The two countries pledged to deepen their economic and security ties during White House talks between U.S. President Joe Biden and South Korean President Moon Jae-in in May.

The United States and South Korea said they would work to increase the supplies of legacy semiconductors for the global automotive industry, and to support semiconductor manufacturing in both countries.

They also agreed to cooperate closely on reforms of the World Trade Organization, and to work together to end all forms of new public financing for overseas unabated coal-fired power plants.

Source: Read Full Article