Cheong In Kyo, South Korea's top Trade Envoy, said that President Donald Trump's tariff reprieve has provided room for negotiation as the country tries to reduce tariffs by talks.

The trade ministry reported that Cheong had met with U.S. Trade Rep Jamieson Greer to discuss lowering tariffs on the country. He also expressed his concerns regarding U.S. Tariff Measures.

He flew to Washington, D.C. to negotiate with U.S. officials following President Trump's announcement of a 25% tariff against its key Asian ally as part of a new set sweeping tariffs.

On Wednesday, Trump made a dramatic reversal and announced that he would temporarily lower his hefty tariffs he just imposed on several countries. He also increased the pressure on China.

Reporters were told that Cheong found this reprieve to be "positive" but that Washington must still consult quickly to minimize the impact. This is because South Korea exports to China and a balloon effect are both factors to consider.

Trump called South Korean interim leader Han Duck Soo late Tuesday night to discuss shipbuilding, potential energy deals and other topics. Trump referred to the call as a "great one" because South Korea is negotiating with Washington about tariffs.

The ministry released a statement by Cheong, who is the trade envoy. He said that the Trump-Han dialog had given a positive momentum to further negotiations. (Reporting and editing by Ju-min Park, Rod Nickel, Lincoln Feast and Chris Reese.)

(source: Reuters)