AsianFin -- South Korea is considering Japan’s recent trade agreement with the United States as a reference point while finalizing its own trade deal, Finance Minister Koo Yun-cheol said Monday.

“There are pros and cons for us. What is positive is that because we know the outcome of Japan’s negotiations, we can negotiate with the U.S. based on it,” Koo told reporters during a press briefing.

Last week, President Donald Trump signed an executive order implementing Japan’s trade agreement, which lowers U.S. tariffs on Japanese car imports from 25% to 15%. South Korea, however, has yet to reach a finalized written agreement on the deal it struck with the U.S. in late July, led by Koo’s negotiating team.

The tariff reduction granted to Japan has created a competitive disadvantage for South Korean automakers, who continue to face the higher 25% U.S. duties. “We will consult with the U.S. in a way that meets the national interest as much as possible,” Koo added, emphasizing Seoul’s intent to ensure a fair outcome for its domestic industries.