Seoul— South Korea’s chief trade negotiator convened a cross-ministerial meeting on Tuesday to craft a comprehensive strategy for upcoming tariff negotiations with the United States, as the two countries prepare for additional rounds of trade talks in the coming weeks, the Ministry of Trade, Industry and Energy said.
Trade Minister Yeo Han-koo met with senior officials from the finance, land, agriculture, and oceans ministries, among others, to coordinate positions on key items currently under negotiation with Washington, according to Yonhap news agency.
The session focused on developing tailored response plans for each item on the table, with Yeo urging the participating ministries to pursue outcomes that would ensure a “win-win” resolution for both sides.
“South Korea has fallen behind other major economies in trade negotiations with the U.S. due to political uncertainty,” Yeo noted, referencing the recent shift in South Korea’s leadership. “Now that we have a government with democratic legitimacy, we must work toward a successful conclusion to these talks. This is also an opportunity to improve industrial competitiveness and foster new growth engines by aligning our systems and regulations with the new administration’s growth-oriented philosophy.”
Yeo did not confirm a date for his next meeting with U.S. trade officials but said discussions are underway to coordinate his visit to Washington. He added that South Korea plans to engage in a series of “shuttle” talks between trade ministers, along with technical-level consultations in the coming weeks.
A proposed meeting between South Korean President Lee Jae-myung and U.S. President Donald Trump, originally expected to take place on the sidelines of the G7 summit in Canada, was canceled after Trump abruptly departed due to the escalating Israel-Iran conflict.
South Korea is aiming to secure either a full exemption or a reduction in U.S. tariffs on steel and automobile imports. The goal is to reach a comprehensive agreement by July 8, when the U.S. is set to reinstate suspended reciprocal tariffs — including a 25 percent duty that would affect Korean exports.
The Trump administration has expressed concerns over South Korea’s significant trade surplus and various non-tariff trade barriers. Earlier this year, the U.S. Trade Representative’s annual report on foreign trade barriers cited numerous issues, including Korea’s ban on U.S. beef from cattle over 30 months old, strict emission regulations on imported vehicles, and limitations on exporting high-precision map data. (Source: IANS)
