Overview

• On June 16, the Industry Ministry established a task force to steer negotiations with the U.S. on tariffs and non-tariff barriers.
• Trade Minister Yeo Han-koo will lead the group that brings together officials across government and representatives from industry.
• The team will devise a package to roll back 25% reciprocal tariffs on automobiles, steel and semiconductors by July 8.
• President Donald Trump’s administration has indicated it will send Seoul a take-it-or-leave-it ultimatum within two weeks.
• A public hearing is planned for June 30 to collect feedback from associations, businesses and consumers.