City
Epaper

South Korea, US to launch working-level talks on tariffs this week

By IANS | Updated: April 30, 2025 10:37 IST

Seoul, April 30 South Korea and the United States will hold working-level talks this week to set details ...

Open in App

Seoul, April 30 South Korea and the United States will hold working-level talks this week to set details of their recent agreement concerning the Donald Trump administration's tariff scheme, Seoul's industry ministry said on Wednesday.

The two-day "technical discussions" will begin on Wednesday (U.S. time) in Washington as a follow-up to last week's agreement to craft a package deal on the new U.S. tariffs and ways of bilateral economic and industrial cooperation before the 90-day pause on the tariff measures expires on July 8, according to the Ministry of Trade, Industry and Energy.

The upcoming discussions will be attended by officials from the ministry and the Office of the United States Trade Representative (USTR), reports Yonhap news agency.

"This round of technical consultations is intended to finalize the framework for discussions regarding U.S. tariff measures. We will actively seek exemptions from reciprocal tariffs, item-specific tariffs, such as those on automobiles and steel products, and any new levies that may be introduced in the future, in order to minimize damage to our businesses," senior ministry official Jang Sung-gil said.

During the first "two-plus-two" tariff talks held last Thursday, Seoul and Washington agreed to focus on four areas in crafting a deal: tariff and non-tariff measures, economic security, investment cooperation and currency policies.

The meeting in Washington had brought together South Korea's Finance Minister Choi Sang-mok and Industry Minister Ahn Duk-geun with their U.S. counterparts, Treasury Secretary Scott Bessent and USTR Jamieson Greer.

Earlier this month, Trump announced a minimum 10 percent "baseline" tariff on all imports to the U.S., along with "reciprocal" tariffs, including 25 percent duties for South Korea, that targeted some 60 countries.

Shortly after the announcement, however, Trump paused the implementation of the reciprocal tariffs for 90 days, and began holding separate negotiations with each partner nation.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

InternationalSouth Korea: Ruling party accepts proposed special counsel probe into Unification Church over bribery allegations

EntertainmentRajat Bedi to Rakesh Roshan: The man who gave me a role that’s kept me alive till today

International"Can't demand my return to face my political assassination," says former Bangladesh PM Sheikh Hasina after ICT verdict

MumbaiMumbai: Gas Dealer Duped of Rs 1 Crore by Fraudsters Posing as Senior Police Officers

NationalCM Stalin to inaugurate Chennai book fair on Jan 8, record 1,000 stalls being set up

Business Realted Stories

BusinessRBI may further cut repo rate by 25 bps to 5% in February policy meet: UBI report

BusinessS. Korean trade minister voices concern over new Canadian steel import policy

BusinessNo changes in existing rules for short selling: SEBI

BusinessPetroleum and Natural Gas Rules 2025 to bring paradigm shift in oil & gas sector: Hardeep Puri

Business‘Greatest gift for Assam’: Leaders and commoners praise PM Modi over Namrup urea plant