Overview

• Trade Policy Director Chang Sung-gil said Washington wants Seoul to help curb China’s growing shipbuilding market as a prerequisite for bilateral industrial cooperation
• The US has declined to eliminate tariffs on cars and steel, maintaining reservations on cutting duty rates
• Washington is demanding that South Korea boost American investments and buy US energy and agricultural products in exchange for negotiating down 25% reciprocal tariffs
• Political sensitivity over expanded farm imports in South Korea complicates approval of US purchase and market-opening requests
• With 25% reciprocal duties set to begin August 1, negotiators face mounting pressure to reach a tariff agreement in the coming weeks