Seoul: A senior presidential adviser for policy on Tuesday called for stepped up tariff talks with the United States, as U.S. President Donald Trump set a 25 percent tariff on South Korean goods while extending a deadline for talks to Aug. 1. Kim Yong-beom, the presidential chief of staff for policy, made the remarks after holding a response meeting with relevant ministries, as Trump shared a letter addressed to President Lee Jae Myung, offering Seoul more time to negotiate a deal with Washington.
According to Yonhap News Agency, with another three-week reprieve on the tariffs, Kim said South Korea secured "time to respond" by the end of July. Kim urged relevant ministries to "make utmost efforts on negotiations with the U.S. by putting national interests at the top priority," according to the presidential office. National interests are more important than swift negotiations with the U.S., Kim said.
Kim also stressed the need to implement support measures for affected sectors, such as the auto and steel industries, and to explore ways to diversify export markets. In Washington, National Security Adviser Wi Sung-lac met with U.S. Secretary of State Marco Rubio. Wi told Rubio that Seoul hopes to hold a summit between Lee and Trump at an early date.
Presidential spokesperson Kang Yu-jung said Wi and the negotiating team have been actively engaging with their U.S. counterparts to achieve the best possible outcome in the trade talks. "Considering the time constraints since the launch of the new administration, we were able to avoid the worst-case scenario of an immediate tariff hike," Kang said.