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2mo ago

South Korea’s Trade Minister Meets U.S. Counterparts in Washington to Advance Tariff Deal

Yeo Han-koo used his first U.S. visit since taking office to press U.S. officials on lifting 25% levies in a bid to secure a trade package before the suspension lapses

South Korea's chief trade negotiator Yeo Han-koo (R) met with U.S. Commerce Secretary Howard Lutnick (C) and U.S. Trade Representative Jamieson Greer in Washington on Monday. Photo courtesy of South Korea Ministry of Trade, Industry and Energy
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Overview

  • Yeo Han-koo met with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick in Washington on June 23
  • The discussions covered four negotiation pillars including tariff and non-tariff measures, economic security, investment cooperation and currency policies
  • South Korea has faced a 25% U.S. tariff on its exports since May and is seeking relief before the July 8 expiry of a 90-day tariff suspension
  • The meeting marked Yeo’s first official visit to the U.S. since his June 10 appointment by President Lee Jae-Myung
  • Both sides aim to finalise a “package” trade agreement by July 8 to avoid reinstatement of reciprocal levies