Washington: South Korea and the United States are scheduled to hold a second round of technical discussions in Washington this week regarding the latter's sweeping tariff scheme, as the two sides are working toward forging a "package" deal by early July, officials said Monday. A South Korean government delegation will depart for Washington on Tuesday to engage in the talks, which were set to take place later in the day, according to officials from the Ministry of Trade, Industry and Energy.
According to Yonhap News Agency, the consultation is expected to take place for two to three days. The two sides were to discuss six key areas of trade imbalances, non-tariff measures, economic security, digital trade, country of origin of products, and commercial considerations. Last month, the U.S. began imposing reciprocal tariffs on partner nations, including 25 percent duties on South Korea, only to pause them shortly afterward to allow for one-on-one negotiations.
Seoul and Washington subsequently agreed to work toward a "July package" deal on trade and other related issues before July 8, when Trump's 90-day pause on reciprocal tariffs is to expire. Following the first round of working-level discussions in Washington earlier this month, Industry Minister Ahn Duk-geun and Trade Minister Cheong In-kyo each held separate meetings with U.S. Trade Representative Jamieson Greer on South Korea's southern island of Jeju last week, where they reiterated their request for a complete tariff exemption.
A ministry official stated, "We are closely watching the situation, as there is a possibility that the U.S. may present specific demands related to tariffs and economic cooperation during the upcoming session." The official added, "We first need to identify the U.S. demands in order to conduct necessary domestic discussions."
The South Korean government has indicated it will approach the talks with the U.S. in a measured and prudent manner, without haste, as the country faces a presidential election on June 3.