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Seoul says talks to cover tariff exemptions or reductions and could cover potential cooperation on shipbuilding, energy
Published : 22 Apr 2025, 01:43 PM
South Korea's acting president Han Duck-soo expects this week's trade talks with the United States to pave the way for a mutually beneficial outcome, he said during a cabinet meeting on Tuesday.
US President Donald Trump imposed reciprocal tariffs of 25% on imports of goods from South Korea earlier this month, which have been paused for 90 days. Tariffs on the auto and steel sectors remain at 25%.
The meeting was scheduled at the request of the US, Han said, and will be held in Washington on April 24.
Speaking to reporters ahead of his departure for Washington on Tuesday, Finance Minister Choi Sang-mok said that he aimed to return after "opening the door" to discussions that would strengthen the South Korea-US alliance.
Industry Minister Ahn Duk-geun will also attend the joint meeting with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer.
Talks are expected to cover reciprocal tariff exemptions or reductions, plus duties on cars and steel, the industry ministry said in a statement on Tuesday. It said separately that a specific agenda was being coordinated with the US and has yet to be confirmed.
South Korea's Maeil Business newspaper has reported that the two sides could discuss Seoul joining US efforts to curb trade with China, without citing a clear source.
China on Monday accused Washington of abusing tariffs and warned countries against striking a broader economic deal with the US at its expense.
Han said on Monday that the consultation process with the US "may not be easy".
Trump has previously said that sharing the cost of keeping US troops in South Korea would be part of "one-stop shopping" negotiations with Seoul which South Korean officials have said is not up for negotiation. However, they have said cooperation on shipbuilding is a "very important card" the country holds and that participation in an Alaska gas project could be part of the trade package.
Han "signalled a willingness, depending on the issues, to reopen a cost-sharing deal" in a recent interview with the Financial Times, after the finance minister told lawmakers last week that defence costs were not up for negotiation.
