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Seoul’s New Trade Minister Heads to Washington for Crucial Tariff Negotiations

Seoul: South Korea's new top trade negotiator will visit the United States for tariff negotiations next week amid the looming deadline of July 8, his agency said Saturday.

According to Yonhap News Agency, Yeo Han-koo will head for Washington on Sunday for tariff talks with U.S. Trade Representative (USTR) chief Jamieson Greer and other senior officials, as announced by the Ministry of Trade. Yeo was appointed the trade minister under the Lee Jae Myung government on June 10.

In May, Seoul and Washington agreed to focus their talks on four categories: tariff and non-tariff measures, economic security, investment cooperation, and currency policies. Earlier, Yeo mentioned crafting measures to ensure a "win-win" agreement for both countries, emphasizing that the allies are expected to hold "intense" negotiations in the coming weeks.

South Korea and the U.S. have agreed to come up with a package deal covering tariffs, non-tariff measures, economic cooperation, and other trade issues by July 8. This deadline marks the end of the Donald Trump administration's suspension of reciprocal tariffs, including a 25 percent duty for South Korea. The Trump administration has previously raised concerns about South Korea's significant trade surplus with the U.S. and various non-tariff trade barriers.

Earlier this year, the U.S. Trade Representative (USTR) issued an annual report on foreign trade barriers, highlighting a wide range of Korea's non-tariff measures. These include an import ban on American beef from cattle aged 30 months or older, emission-related regulations on imported cars, and restrictions on overseas transfers of high-precision map data.

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