South Korea’s ongoing tariff negotiations with the United States are a reflection of the importance Washington attaches to its alliance with Seoul and an approach that aims to balances the strategic needs of both countries, analysts have said.
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After the first round of trade talks in Washington on Thursday, Seoul’s delegation said that South Korea and the US had agreed to work towards a package of deals aimed at removing a 25 per cent tariff that Washington had threatened to impose on Seoul. South Korea is already subject to a baseline 10 per cent tariff like other US’ trade partners.
On April 8, US President Donald Trump announced a 90-day pause on what he called “reciprocal” tariffs, which would end in early July.
US Treasury Secretary Scott Bessent said both countries had a “very successful” meeting. “We may be moving faster than I thought, and we will be talking technical terms as early as next week,” he told reporters.
Bessent and US Trade Representative Jamieson Greer met with South Korean Finance Minister Choi Sang-mok and Industry Minister Ahn Duk-geun during the talks.
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While no details on potential areas of agreement were mentioned by either side, Seoul said in a statement that it had requested exemptions from US tariffs – including for specific items – and offered cooperation on shipbuilding and energy as well as addressing the bilateral trade imbalance.