Overview

• South Korea and Vietnam have agreed to closely coordinate on managing the economic impact of U.S. reciprocal tariffs set to take effect on July 9, 2025.
• The Trump administration plans to impose 25% tariffs on South Korea and 46% tariffs on Vietnam, following a 90-day suspension period.
• During bilateral talks in Hanoi, both nations committed to advancing their strategic partnership across sectors like trade, security, energy, and infrastructure.
• South Korean Foreign Minister Cho Tae-yul sought Vietnam's assistance in addressing challenges faced by South Korean businesses, including residency permits and regulatory approvals.
• Vietnam's Deputy Prime Minister Bui Thanh Son reaffirmed Vietnam's commitment to improving its business environment and supporting South Korean companies, which play a significant role in its economy.