High-Stakes Tariff Talks: Trump Meets South Korean Trade Delegation

In a crucial move for international trade relationships, U.S. President Donald Trump will meet with South Korea's trade delegation in a bid to negotiate a last-minute agreement on U.S. tariffs. The announcement was made by South Korea's presidential office on Thursday, signaling heightened efforts to resolve the trade tension.

South Korean officials, including Finance Minister Koo Yun-cheol, Industry Minister Kim Jung-kwan, and Trade Minister Yeo Han-koo, have already been in talks with U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer. Their mission is critical, as they aim to strike a deal before Trump's looming deadline, which threatens to impose a 25% tariff on South Korean exports, crucially affecting industries like chips, cars, and steel.

The pressure on South Korea has escalated after Japan successfully negotiated a reduction of Trump's threatened tariffs to 15% earlier this month. As a strategic negotiation unfolds, the South Korean government is reportedly offering trade incentives and industrial cooperation in areas such as shipbuilding, chip manufacturing, and battery production to avert the hefty tariffs.

(With inputs from agencies.)