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6d ago

South Korea Prepares for High-Stakes Tariff Negotiations in Washington

Formal talks with the U.S. are set to begin later this week, as South Korea seeks to resolve 25% reciprocal tariffs under a 90-day suspension.

Finance Minister Choi Sang-mok (R) speaks with Industry Minister Ahn Duk-geun during an economic security task force meeting in Seoul on April 21, 2025. (Yonhap)
Officials work at a dealing room of Hana Bank in Seoul on April 21, 2025. (Yonhap)
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Overview

  • South Korea will begin formal tariff negotiations with the U.S. in Washington later this week, aiming to address the 25% reciprocal tariffs imposed by the Trump administration.
  • The U.S. had paused the implementation of these tariffs for 90 days, creating a window for diplomatic resolution.
  • Acting President Han Duck-soo acknowledged the challenges of the negotiations but emphasized efforts to achieve a mutually beneficial outcome.
  • South Korean markets showed cautious optimism, with the KOSPI closing slightly higher for a third consecutive session and the won strengthening against the U.S. dollar.
  • The trade talks occur in the context of broader regional trade tensions, with South Korea following Japan in engaging with the U.S. while U.S.-China discussions remain stalled.