South Korea's High-Stakes Trade Dance with the U.S.
Three cabinet-level South Korean officials met U.S. Commerce Secretary Howard Lutnick for trade talks in Washington, as top business leaders joined to lobby against U.S. tariffs. With a package focused on mutually beneficial outcomes, South Korea aims to avoid 25% tariffs set by President Trump's August deadline.
In a bid to secure favorable trade terms, three key South Korean ministers held discussions with U.S. Commerce Secretary Howard Lutnick in Washington. The urgent talks are aimed at countering impending 25% tariffs, following President Trump's August 1 deadline.
South Korean President Lee Jae Myung expressed his confidence in his ministers as they worked on a mutually beneficial trade package with the U.S. Their efforts coincide with warnings from Lutnick, who urged them to offer their best during final negotiations, elevating tensions ahead of the deadline.
Optimism surrounding the talks has seen South Korea's KOSPI stock index rise, fueled by the presence of major business figures such as Hyundai's Euisun Chung and Samsung's Jay Y. Lee in Washington to support negotiations. With high hopes for industrial cooperation, South Korea's strategy includes ships, chips, and technology sectors to bolster its position.
(With inputs from agencies.)
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