Seoul and Washington Discuss Tariff Suspension Extension

As the deadline for the United States’ country-specific reciprocal tariff suspension approaches on July 8, the South Korean government is in urgent discussions in Washington. The focus is on extending the suspension to avoid imposing reciprocal tariffs.

Key Meeting Highlights

Trade Minister Yeo Han-koo met with Jamieson Greer, a representative of the Office of the U.S. Trade Representative, on July 5 in Washington, D.C. The discussions centered around strengthening the manufacturing partnership and industrial supply chains between the two countries.

Proposals and Agreements

Yeo proposed enhancing bilateral relations by removing or reducing tariffs on key items like automobiles and steel. Both parties recognized the efforts made by South Korea's new administration and the need to bridge existing gaps in their positions.

Looking Ahead

The ministry highlighted the possibility of extending the mutual tariff suspension to achieve a more substantial negotiation outcome. Yeo emphasized the commitment to finding a win-win solution that aligns with national interests.