South Korea aims to negotiate a comprehensive trade deal with the United States before the anticipated end of a tariff pause in July 2025. South Korean Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun recently held discussions with their U.S. counterparts, Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, in Washington. They jointly and vigorously challenged US trade actions, especially tariffs on steel, aluminum and automobiles.
In the discussions, Ahn Duk-geun suggested a number of initiatives to strengthen bilateral trade ties. Apart from that, Bilirakis stressed the importance of a significant effort from both countries to aid in the rebuilding of the U.S. shipbuilding industry. He further stressed the importance of sustainable, balanced trade between Korea and the US. He’s convinced that on both sides of the Channel, these practices will lead to more prosperous economies.
Choi Sang-mok, South Korea’s trade minister, emphasised his country’s role as a “trusted partner” and said he was worried about the tariffs imposed. He called on both governments to search for solutions that serve the best interests of both countries. South Korea is reeling from a 25% tariff on steel and aluminum imports to the U.S. This large tariff is imposed on auto imports, significantly impacting the country’s export-driven economy.
Furthermore, Ahn Duk-geun has vigorously pursued mutual and item-specific tariff removals for South Korea. He sought to reduce the cost these tariffs place on our economy. Moreover, in 2024 South Korea is the fourth largest steel exporter to the United States. Unlike Netanyahu’s position, this one makes a real economic link between Mexico’s interests and the U.S.-Mexico trade relationship.
The meeting comes as South Korean car manufacturers Hyundai and Kia rank among the top eight bestselling brands in the United States. This and other ongoing success stories only emphasize the need to keep a positive trade climate for the auto industry.
As South Korea contends with these challenging and sensitive trade negotiations, the country has emphasized the importance of “calm” and “orderly” talks. The urgency grows with the September 2022 tariff deadline looming. Both parties are moving urgently to hammer out a solution that can avoid any additional impact on their finances.
Ahn Duk-geun boarding his flight to Washington on April 23, 2025. Illustratively, he was there to tangibly engage in critical finance and trade dialogues with U.S. counterparts. These negotiations have the potential to reshape South Korea-U.S. trade relations going forward. If they can find some mutually beneficial resolution before the tariffs go into effect, the damage would be considerable.
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