South Korea Intensifies Tariff Talks with U.S. Amid Japan's Deal Pressure
South Korea's Industry Minister Kim Jung-kwan and trade envoy Yeo Han-koo are in Washington aiming to finalize a tariff deal with U.S. Commerce Secretary Howard Lutnick. With deadlines approaching and Japan's recent deal with the U.S., efforts intensify for South Korea to protect its manufacturing and agricultural sectors.
South Korea's Industry Minister Kim Jung-kwan and top trade envoy Yeo Han-koo met U.S. Commerce Secretary Howard Lutnick in Washington on Friday, continuing crucial talks over tariffs.
They emphasized the importance of cooperation on strategic manufacturing sectors, discussing a 'mutually beneficial' deal focusing on industries like shipbuilding and semiconductors.
The urgency for a deal was heightened by Japan's recent agreement with the U.S., causing concern over South Korea's competitive positioning. South Korea proposes a significant investment plan to bolster negotiations.
(With inputs from agencies.)
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