SEOUL/WASHINGTON, D.C.: South Korea and the United States have agreed to work toward a trade package aimed at averting the reimposition of U.S. tariffs set to resume in July, according to South Korea’s trade delegation following their first round of negotiations in Washington.
U.S. officials described talks between U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, South Korean Finance Minister Choi Sang-mok, and Industry Minister Ahn Geun as progressing quickly.
“We may be moving faster than I thought,” Bessent told reporters after the meeting, adding that technical-level discussions could begin as early as next week.
South Korean officials offered a more cautious view, calling the talks a “good start” and noting that any agreement would require time. “We agreed to hold working-level talks next week to determine the scope and structure of talks, with the goal of producing a ‘July package’ by July 8,” Ahn said.
South Korea is seeking exemptions from reciprocal and item-specific U.S. tariffs and has offered cooperation in areas including shipbuilding, energy, and addressing trade imbalances. Four key areas of focus were identified: tariffs and non-tariff measures, economic security, investment cooperation, and currency policy.
The talks come as the U.S. pushes a broader strategy to negotiate tariff deals with key trading partners. Bessent also held meetings with Japanese officials, as Japan faces similar tariff challenges. South Korea, hit with 25 percent tariffs under the Trump administration’s policies, has prioritized protecting its automobile industry from further impact.
Choi noted that defense costs, previously raised by Trump as a linked issue, were not discussed during the trade talks. He also said no mention was made of renegotiating the U.S.-South Korea free trade agreement.
South Korea’s political situation adds a layer of uncertainty to the talks. Acting President Han Duck-soo has voiced support for reaching a deal, but the opposition Democratic Party, favored to win the June election, has criticized the current government for rushing negotiations. “The prime minister of the impeachment government has no mandate from the Korean people to commit to a deal,” said former trade minister Yeo Han-koo.
South Korea also said the U.S. raised concerns about digital trade barriers, citing issues such as network usage fees and data export restrictions.
Further rounds of talks are scheduled for mid-May in Seoul.
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