Overview

• South Korea formally requested exemptions from U.S. reciprocal and sector-specific tariffs, including steel and auto duties, during the inaugural '2+2' talks in Washington.
• As negotiation incentives, Seoul proposed increasing U.S. energy imports and supporting the revitalization of the U.S. shipbuilding industry.
• Both nations agreed to draft a comprehensive 'July package' deal by July 8, aiming to remove paused tariffs and address broader economic collaboration.
• Future discussions will focus on tariffs, non-tariff measures, economic security, investment cooperation, and exchange rate policies, with working-level talks set to begin next week.
• The talks concluded in a constructive atmosphere, with U.S. officials praising South Korea's detailed proposals and readiness to engage in technical discussions.