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last yr.

South Korea Pushes for U.S. Tariff Exemptions as Technical Talks Advance

Bilateral negotiations focus on trade imbalances, economic security, and industrial cooperation ahead of South Korea's June 3 election.

U.S. Trade Representative Jamieson Greer attends the opening ceremony of APEC Ministers Responsible for Trade Meeting at International Convention Center in Seogwipo on Jeju island, South Korea, May 15, 2025. REUTERS/Kim Hong-Ji
U.S. Secretary of the Navy John Phelan (2nd from R, front row) visits the shipyard of Hanwha Ocean Co. in the southeastern industrial city of Geoje on April 30, 2025, in this file photo released by the company. (PHOTO NOT FOR SALE) (Yonhap)
Participants in a trade ministers' meeting of the Asia-Pacific Economic Cooperation member economies pose for a photo during the opening ceremony on the southern resort island of Jeju on May 15, 2025, in this photo provided by South Korea's trade ministry. (PHOTO NOT FOR SALE) (Yonhap)
In this photo taken May 16, 2025, and provided by HD Hyundai Co., Chung Ki-sun (R), executive vice chairman and CEO of the group, shakes hands with U.S. Trade Representative Jamieson Greer ahead of a meeting to discuss shipbuilding cooperation on the sidelines of the Asia-Pacific Economic Cooperation trade ministers' meeting held on Jeju Island from May 15–16. (PHOTO NOT FOR SALE) (Yonhap)

Overview

  • South Korea has reiterated its request for full exemptions from U.S. tariffs, including the suspended 25% duties on steel and autos, during talks with U.S. Trade Representative Jamieson Greer on Jeju Island.
  • Both nations agreed to hold a second round of technical discussions next week, focusing on six key trade areas, including non-tariff measures and digital trade.
  • High-level meetings between USTR Greer and South Korean shipbuilding executives from HD Hyundai and Hanwha Ocean emphasized joint technology development and workforce training.
  • The APEC trade ministers issued a joint statement reaffirming the World Trade Organization's role in addressing trade challenges and projecting regional economic growth to slow to 2.6% in 2025.
  • South Korea's ongoing trade negotiations with the U.S. are unlikely to conclude before a new government is installed following the June 3 presidential election.