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South Korea, U.S. Hold Talks as Tariff Pressure Persists
South Korea seeks to implement a $350 billion US investment pledge amid US threats to raise tariffs from 15% to 25%, with no assurance tariffs will be withdrawn.
- 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- So far, the United States has not withdrawn its plan to raise reciprocal tariffs on South Korea from 15% to 25%, tied to a stalled special investment bill in the National Assembly under the Strategic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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Coverage Details
Total News Sources15
Leaning Left2Leaning Right2Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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