Washington: South Korea's trade minister, Yeo Han-koo, announced his intention to adopt a "national interest-based and pragmatic" strategy in the upcoming trade discussions with the United States. This declaration was made as he embarked on a trip to Washington for negotiations on tariff issues with U.S. officials.

According to Yonhap News Agency, Yeo Han-koo emphasized the need for "pragmatic and mutually beneficial negotiations based on national interests" in his discussions with the U.S. He is scheduled to meet with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick. The agenda for these meetings includes various trade matters such as tariffs and non-tariff trade measures. Yeo also plans to engage with officials at the White House and the U.S. Congress during his visit.

South Korean officials have stated that the third round of technical discussions on these issues will also take place this week in Washington. The ministry highlighted that Yeo intends to address South Korea's concerns over the significant tariff measures imposed by the U.S., such as 50 percent tariffs on steel imports and 25 percent duties on imported cars. The discussions aim to find mutually beneficial solutions to the trade issues between the two countries.

Additionally, Yeo will urge U.S. lawmakers to facilitate a "stable" and "predictable" environment for Korean companies investing in the U.S., in light of Washington's proposed changes to tax incentives under the Inflation Reduction Act. The trade minister expressed his commitment to achieving a win-win resolution regarding tariff issues and building strong alliances within the U.S. to support Korean businesses.

Seoul and Washington have an agreement in place to develop a comprehensive package addressing tariffs, non-tariff measures, economic cooperation, and other trade issues by July 8. This date marks the end of the U.S. administration's suspension of reciprocal tariffs, which includes a 25 percent duty applicable to South Korea.