South Korea and the United States are engaged in crucial negotiations over tariff issues, ahead of the looming July 9 deadline, which marks the end of a 90-day suspension period for US tariffs.
According to South Korea’s Ministry of Trade, Industry, and Energy on Sunday, South Korean Trade Minister Yoo Han-koo met with US Deputy Trade Representative Jamieson Greer in Washington on Saturday. The discussions focused on industrial cooperation and tariff exemptions.
During the meeting, South Korea proposed a new framework for industrial cooperation aimed at strengthening supply chains and enhancing mutual economic benefits. The Korean side emphasized that any final trade agreement between the two nations should include the elimination or reduction of tariffs on key South Korean exports, particularly automobiles and steel.
Minister Yoo presented this proposal as part of South Korea’s broader vision to foster a "mutually beneficial" industrial partnership, aligning with Washington’s goal of revitalizing its domestic manufacturing sector.
The talks come as the US considers reimposing tariffs on several imported goods after the temporary suspension period expires. Both sides are working to reach a consensus before the deadline to avoid potential trade disruptions.
Follow the latest news on Google News
