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.
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U.S. President Donald Trump signaled support for steep tariffs on Chinese imports, calling 80% levies “right” ahead of high-level trade talks in Geneva aimed at easing escalating tensions between Washington and Beijing.
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European foreign ministers signed the Lviv Statement supporting a special tribunal and a U.S.-backed ceasefire, during a visit to Ukraine that included a memorial tribute to fallen soldiers.
White House economic adviser Kevin Hassett said on Friday that early signs ahead of this weekend’s U.S.-China trade talks in Switzerland appear positive, with both sides showing mutual respect and a constructive tone.
A new U.S.-supported initiative to deliver humanitarian aid into Gaza is expected to start operating shortly, U.S. Ambassador to Israel Mike Huckabee said Friday, though specific details are yet to be made public.
U.S. President Donald Trump signaled support for steep tariffs on Chinese imports, calling 80% levies “right” ahead of high-level trade talks in Geneva aimed at easing escalating tensions between Washington and Beijing.
Kazakhstan and Pakistan signed a series of trade and transit agreements during a high-level business forum in Karachi, paving the way for expanded commercial cooperation and long-term logistics development between the two countries.
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European foreign ministers signed the Lviv Statement supporting a special tribunal and a U.S.-backed ceasefire, during a visit to Ukraine that included a memorial tribute to fallen soldiers.
White House economic adviser Kevin Hassett said on Friday that early signs ahead of this weekend’s U.S.-China trade talks in Switzerland appear positive, with both sides showing mutual respect and a constructive tone.
A new U.S.-supported initiative to deliver humanitarian aid into Gaza is expected to start operating shortly, U.S. Ambassador to Israel Mike Huckabee said Friday, though specific details are yet to be made public.
U.S. President Donald Trump signaled support for steep tariffs on Chinese imports, calling 80% levies “right” ahead of high-level trade talks in Geneva aimed at easing escalating tensions between Washington and Beijing.
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European foreign ministers signed the Lviv Statement supporting a special tribunal and a U.S.-backed ceasefire, during a visit to Ukraine that included a memorial tribute to fallen soldiers.
White House economic adviser Kevin Hassett said on Friday that early signs ahead of this weekend’s U.S.-China trade talks in Switzerland appear positive, with both sides showing mutual respect and a constructive tone.
A new U.S.-supported initiative to deliver humanitarian aid into Gaza is expected to start operating shortly, U.S. Ambassador to Israel Mike Huckabee said Friday, though specific details are yet to be made public.
U.S. President Donald Trump signaled support for steep tariffs on Chinese imports, calling 80% levies “right” ahead of high-level trade talks in Geneva aimed at easing escalating tensions between Washington and Beijing.
Kazakhstan and Pakistan signed a series of trade and transit agreements during a high-level business forum in Karachi, paving the way for expanded commercial cooperation and long-term logistics development between the two countries.
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