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South Korea, U.S. Hold Talks as Tariff Pressure Persists
South Korea aims to prevent a U.S. tariff hike by advancing a $350 billion bilateral investment agreement with no firm breakthrough in talks, officials said.
- On Monday, South Korean Foreign Minister Cho Hyun held impromptu talks with U.S. Secretary of State Marco Rubio in Washington during the Critical Minerals Ministerial, but the meeting produced no clear breakthrough on U.S. tariff pressure.
- So far, the United States has not withdrawn its plan to raise reciprocal tariffs on South Korea from 15% to 25%, tied to a stalled special investment bill in the National Assembly under the Strategic Investment Memorandum of Understanding with a roughly $350 billion pledge.
- Talks covered a new intergovernmental nuclear cooperation task force and concrete investment projects as Trade envoy Yeo Han-koo said he will brief the U.S. Congress, urging, `Passing the investment bill as soon as possible is most important at this stage`.
- On Thursday, South Korea's top trade envoy said Washington has yet to take administrative steps to raise tariffs, warning higher duties could weigh on exporters given trade accounts for roughly 40 per cent of South Korea's GDP.
- Some analysts say the pressure looks strategic and tied to assembly delays, while observers urge decisive action to restore confidence and advance investment talks between Washington and Seoul.
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South Korea trade envoy says making 'good faith' efforts to meet terms of US deal
South Korea's top trade envoy said on Thursday that Washington has yet to take an administrative step to impose higher tariffs on its goods and that he believes such action is not necessary as Seoul works to meet the terms of their trade deal.
·United Kingdom
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Coverage Details
Total News Sources9
Leaning Left2Leaning Right0Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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