US EditionSouth Korea in push for US trade deal to offer package including shipbuilding tie-up
SOUTH KOREA, JUL 29 – South Korea offers a multi-billion dollar investment and expanded US shipyard partnership to avoid 25% tariffs on exports, which represent over 40% of its GDP, officials said.
- South Korea’s finance and foreign ministers are meeting with U.S. counterparts this week to negotiate a trade deal before the August 1 tariff deadline.
- The talks follow mounting pressure from the U.S. to avoid 25 percent tariffs on key South Korean exports, with Washington urging South Korea to bring its best final offer.
- South Korea is proposing a package centered on national interest that includes a major shipbuilding cooperation project called Make American Shipbuilding Great Again.
- Finance Minister Koo Yun-cheol stated that they are committed to preparing a proposal focused on protecting national interests and achieving an agreement that benefits both South Korea and the United States.
- If no deal is reached, South Korea risks a 1.7 percent GDP loss and higher tariffs, but successful talks could secure tariff reductions and enhance industrial collaboration.
27 Articles
27 Articles
Korea Pitches Multibillion-Dollar “Make American Shipbuilding Great Again” as US Tariff Deadline Looms
(Zero Hedge)—A Trump-imposed firm August 1st deadline looms for South Korea to reach a finalized trade agreement with the US, or else a 25% tariff could be imposed on America’s closest regional ally, which hosts major US military bases, and is heavily reliant on US ‘protection’ from North Korea and its nuclear arsenal. The country’s Deputy Prime Minister Koo Yun-cheol and Foreign Minister Cho Hyun are set to meet with US Treasury Secretary Scott…
South Korea in push for US trade deal to offer package including shipbuilding tie-up
South Korean Finance Minister Koo Yun-cheol said on Tuesday he would seek a mutually beneficial trade deal when he meets U.S. Treasury Secretary Scott Bessent for talks this week, just days before an August 1 deadline expires to avoid punishing tariffs.
Korea's finance chief vows 'mutually beneficial' trade deal with Trump gov't
Korea's Finance Minister Koo Yun-cheol on Tuesday pledged to make every effort to reach what he called a "mutually beneficial" trade agreement with the United States ahead of this week's negotiation deadline. "We will do our utmost to draw up a proposal that centers on national interest and enables a mutually beneficial agreement between South Korea and the U.S.," Koo told reporters at Incheon International Airport before departing for Washingto…
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