U.S.-South Korea Trade Talks: Balancing the Scale
The United States pressed South Korea to address their trade imbalance, sparking comprehensive talks. South Korea's $55.6 billion surplus has prompted demands for tariff exemptions. Both nations discussed economic security and digital trade in Washington, focusing on reducing barriers amidst ongoing presidential elections.
In recent trade negotiations, the United States urged South Korea to tackle their substantial trade imbalance, South Korean media reported on Monday. This issue, predominantly affecting the commodity sector, has both nations agreeing on the necessity to address it.
The talks, held in Washington, focused on various aspects including non-tariff measures, economic security, digital trade, and the origin of goods. Notably, the U.S. has made specific demands for the first time. Meanwhile, South Korea continues to pursue tariff exemptions under its existing free trade agreement with America.
As trade discussions advance, against a backdrop of South Korea's upcoming presidential elections, issues such as U.S. objections to restrictions on online platforms and agricultural imports feature prominently. With former President Donald Trump's tariff policies in play, these negotiations are crucial for future economic relations.
(With inputs from agencies.)
Google News