South Korea is preparing trade concessions to ease tensions with Washington, as U.S. President Donald Trump’s sweeping tariffs send shockwaves through global supply chains.
Trade Minister Cheong In-kyo departed for Washington on Tuesday, where he will meet U.S. Trade Representative Jamieson Greer to push back against the new 25% tariff imposed on South Korean exports.
“It is difficult to reduce exports, so shouldn’t we increase imports?” Cheong told reporters before his flight. He confirmed that Seoul is reviewing several options — including expanding U.S. LNG purchases — to rebalance trade flows.
The move follows Trump’s remarks that the door remains open for negotiations — except with China, which now faces a 54% duty.
South Korea has been seeking to shield its export-driven economy, warning that tariffs on both Korean goods and Vietnam-made products from firms like Samsung and LG could cause serious damage.
Finance Minister Choi Sang-mok said the 25% rate is a “huge blow” to South Korean exporters with production in Vietnam, where a separate 46% tariff now applies.
Cheong also questioned the U.S. calculations used to justify the tariff, calling them “problematic” given the existing South Korea-U.S. free trade agreement.
Armenian Prime Minister Nikol Pashinyan's Civil Contract party has won the Armenian elections, picking up nearly half the vote. With a majority in p...
Uzbekistan and Russia have agreed to deepen cooperation in agriculture, energy and food security following high-level meetings held during the St Pete...
Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said on Monday that the U.S. would bear direct responsibility for any escalation in West Asia a...
UK Prime Minister Sir Keir Starmer has hosted Ukrainian President Volodymyr Zelenskyy, French President Emmanuel Macron and German Chancellor Friedric...
Four Palestinians, including an eight-year-old boy, were killed in Israeli strikes across Gaza on Monday (8 June), according to local health officials...
Armenian Prime Minister Nikol Pashinyan's Civil Contract party has won the Armenian elections, picking up nearly half the vote. With a majority in parliament, Pashinyan is set for a third term as Prime Minister. But an opposition politican has said he will challenge the election results.
Uzbekistan and Russia have agreed to deepen cooperation in agriculture, energy and food security following high-level meetings held during the St Petersburg International Economic Forum (SPIEF) 2026.
Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said on Monday that the U.S. would bear direct responsibility for any escalation in West Asia after Iran and Israel resumed strikes for the first time since the April ceasefire.
UK Prime Minister Sir Keir Starmer has hosted Ukrainian President Volodymyr Zelenskyy, French President Emmanuel Macron and German Chancellor Friedrich Merz for high-level talks in Westminster focused on ending the war in Ukraine.
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million people for the next few years. Prime Minister Nikol Pashinyan is hoping to fend off challenges from several pro-Russia candidates to secure a third term.
Armenian Prime Minister Nikol Pashinyan's Civil Contract party has won the Armenian elections, picking up nearly half the vote. With a majority in parliament, Pashinyan is set for a third term as Prime Minister. But an opposition politican has said he will challenge the election results.
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships Natra and Zircon in the Sea of Azov. In a statement, it said four Azerbaijani citizens were killed and four others were injured.
The results of Armenia’s parliamentary elections will determine the makeup of the National Assembly and shape the country's political direction for the foreseeable future. But in Armenia, the final result is not decided by vote percentages alone. Here's how it works.
Iran and Israel have halted strikes on each other, but Tehran has warned it will recommence attacks if Israel continues military action in Lebanon. U.S. President Donald Trump and Lebanese President Joseph Aoun have meanwhile made pleas for peace.
UK Prime Minister Sir Keir Starmer has hosted Ukrainian President Volodymyr Zelenskyy, French President Emmanuel Macron and German Chancellor Friedrich Merz for high-level talks in Westminster focused on ending the war in Ukraine.
A French Rafale fighter jet shot down a drone that entered Latvian airspace from Russia on Monday (8 June), triggering security alerts and renewing concerns about the impact of the war in Ukraine on NATO's eastern flank.
Chinese President Xi Jinping arrived in Pyongyang on Monday (8 June) for a rare summit with North Korean leader Kim Jong Un, receiving a grand welcome as he described relations between the two countries as being at a "new historical starting point".
Football fans of all ages gathered in Miami Beach for a World Cup sticker trading event, exchanging duplicates and comparing Panini albums as they prepared for the tournament's opening match.
A city north of Tokyo has suspended classes at all 94 of its primary and middle schools after its first-ever reported bear sighting, amid growing concern over increasing encounters between bears and people across Japan.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment