Trade envoy requests support for Korean companies in meeting with US lawmakers

Korea's chief trade negotiator has asked U.S. lawmakers to create a "stable" and "predictable" business environment for Korean companies amid Washington's push to legislate a tax bill aimed at reducing tax credits for electric vehicles, Seoul's industry ministry said Friday. Trade Minister Yeo Han-koo made the request in separate meetings with U.S. Republican Sens. Todd Young from Indiana and Bill Hagerty from Tennessee, as well as Korean American U.S. Rep. Young Kim, in Washington on Thursday (U.S. time), according to the Ministry of Trade, Industry and Energy. In the meetings, Yeo called on the U.S. lawmakers to help ensure a "stable" and "predictable" business environment for Korean companies as the tax bill proposed by the Donald Trump administration is expected to significantly affect global markets and the economy. The bill, dubbed the "One Big Beautiful Bill Act," includes changes that would scale back tax credits for electric vehicles and other incentives provided under the Inflation Reduction Act, a measure that would also impact Korean exporters. Yeo emphasized the importance oWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times