White House Continues Negotiations with South Korea to Lower Unfair Trade Barriers

[Financial News] The U.S. White House has evaluated ongoing trade negotiations with South Korea as 'productive' in order to eliminate trade barriers that hinder U.S. companies' entry into the Korean market.
The White House official stated on the 25th (local time) in response to a Yonhap News inquiry about the status of the U.S.-Korea trade negotiations, "We are continuing productive negotiations with South Korea to lower unfair trade barriers and improve market access for U.S. companies."
Earlier, President Trump, on his way to Scotland, met with reporters and stated that most negotiations would be concluded by August 1, when reciprocal tariffs are to be reimposed.
The South Korean government is also engaging in final negotiations with the goal of concluding them before August 1 to lower the 25% reciprocal tariffs and various item-specific tariffs that the U.S. has announced it will impose on South Korea.
Kim Jeong-gwan, Minister of Trade, Industry and Energy, who is visiting the United States, is continuing high-level consultations with key government officials along with Yeo Han-gu, Head of Trade Negotiations Headquarters. In particular, he met twice with Howard Lutnick, U.S. Secretary of Commerce, and drew attention by holding the second meeting at Secretary Lutnick's residence.
Minister Kim and Director Yeo were originally scheduled to return on the 25th but changed their plans for additional negotiations. It is known that they also met at the Department of Commerce building the previous day for about 80 minutes to discuss trade negotiation measures.



nodelay@fnnews.com Park Ji-yeon Reporter