Seoul, May 16, 2025
South Korea will resume tariff negotiations with the United States on Friday, aiming to ease trade tensions and protect key domestic industries amid ongoing global economic uncertainties.
The talks, which had been on hold since late last year, are set to focus on sensitive sectors including steel, automobiles, and semiconductors. Seoul is expected to push for the removal or reduction of U.S. tariffs on South Korean goods, particularly steel, which has faced heavy duties under Section 232 of the U.S. Trade Expansion Act.
An official from South Korea’s Ministry of Trade, Industry and Energy said on Thursday, “We hope this round of discussions will lead to a fairer trade environment and bolster economic cooperation between the two nations.”
U.S. trade officials have expressed interest in ensuring market access for American products in South Korea while addressing concerns about trade imbalances and compliance with bilateral agreements.
The resumption of talks comes amid shifting geopolitical dynamics and supply chain realignments in the Indo-Pacific region. Both sides have emphasized the importance of maintaining a strong economic partnership, especially as they face growing competition from China in high-tech industries.
Analysts say that while a breakthrough is not guaranteed, the reopening of dialogue signals a mutual willingness to find compromise. A joint statement is expected following the meetings, which are scheduled to continue through the weekend.
This development marks a critical moment in South Korea-U.S. economic relations, with both sides seeking to strengthen ties while navigating the complex challenges of global trade.
Comments
Post a Comment