South Korea, US to hold 2nd round of tariff talks in Washington this week
Seoul, May 19 (IANS/WISHAVWARTA) South Korea and the United States are scheduled to hold a second round of technical discussions in Washington this week regarding the latter’s sweeping tariff scheme, as the two sides are working toward forging a “package” deal by early July, officials said on Monday.
A South Korean government delegation is expected to depart for Washington around Tuesday to engage in the talks, which could begin as early as Tuesday (US time), according to officials from the Ministry of Trade, Industry and Energy.
The two sides were to discuss six key areas of trade imbalances, non-tariff measures, economic security, digital trade, country of origin of products and commercial considerations, they added, reports Yonhap news agency.
Last month, the U.S. began imposing reciprocal tariffs on partner nations, including 25 percent duties on South Korea, only to pause them shortly afterward to allow for one-on-one negotiations.
Seoul and Washington subsequently agreed to work toward a “July package” deal on trade and other related issues before July 8, when Trump’s 90-day pause on reciprocal tariffs is to expire.
Following the first round of working-level discussions in Washington earlier this month, Industry Minister Ahn Duk-geun and Trade Minister Cheong In-kyo each held separate meetings with U.S. Trade Representative (USTR) Jamieson Greer on South Korea’s southern island of Jeju last week, where they reiterated their request for a complete tariff exemption.
“We are closely watching the situation, as there is a possibility that the U.S. may present specific demands related to tariffs and economic cooperation during the upcoming session,” a ministry official said.
“We first need to identify the U.S. demands in order to conduct necessary domestic discussions,” he added.
The South Korean government has said it will approach the talks with the U.S. in a measured and prudent manner, without haste, as the country faces a presidential election on June 3.
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