The South Korea-US tariff talks are intensifying as the deadline for Washington’s reciprocal tariffs approaches. With less than three weeks remaining, South Korea is pushing to finalize a practical agreement that protects national interests and promotes mutual benefits.
Trade Minister Yeo Han-koo stressed that while time is short, the focus must remain on achieving substance over speed. He emphasized, “This is a period for decisions and strategic choices. We need a give-and-take process to identify a workable solution.”
Yeo recently visited Washington for six days of discussions with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick. During these meetings, South Korea raised concerns about high tariff rates on key exports like automobiles and steel. The country is urging the US to reduce or remove these duties while offering proposals for industrial cooperation.
The South Korea-US tariff talks have also explored the possibility of a “manufacturing renaissance partnership.” This initiative would encourage South Korean investments in US industries while promoting technology sharing and procurement agreements. Yeo pointed out that such collaboration aligns with the US goal of revitalizing its manufacturing base.
Meanwhile, Washington continues to negotiate with more than 20 countries to reshape global trade relationships. As part of this effort, the US wants South Korea to increase investments and purchases within American markets and to address non-tariff barriers affecting US exporters.
Yeo acknowledged that some of these non-tariff issues are valid while others reflect subjective US corporate interests. He suggested that South Korea could consider regulatory adjustments if they align with domestic modernization goals. However, he reaffirmed that areas critical to national competitiveness will remain protected.
Agricultural imports, including beef and rice, remain a sensitive topic. Yeo described agricultural issues as requiring strategic judgment, acknowledging past challenges in trade talks with multiple regions.
The South Korea-US tariff talks have also touched on potential collaboration in the Alaska liquefied natural gas project. Yeo explained that further assessment is needed because essential commercial data from the US side is still under preparation.
Yeo plans additional meetings with US officials before the August deadline. He is also coordinating closely with Korean ministries and lawmakers to finalize the country’s negotiation stance. “We will protect essential areas but stay flexible where possible,” he noted.
As the US holds simultaneous talks with countries like the EU, Mexico, Canada, and Japan, Yeo warned that even promising negotiations can face unexpected setbacks. He urged vigilance to secure the best outcome for South Korea.
