SEOUL (Reuters) -South Korean President Lee Jae Myung said negotiations with the U.S. on tariffs have stirred concerns in the foreign exchange market but he was confident the two sides will reach a solution, a statement from Lee’s office said on Tuesday. Lee made the comments during a meeting with some members of the U.S. […]
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South Korean president says US tariffs talks worrying FX market
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SEOUL (Reuters) -South Korean President Lee Jae Myung said negotiations with the U.S. on tariffs have stirred concerns in the foreign exchange market but he was confident the two sides will reach a solution, a statement from Lee’s office said on Tuesday.
Lee made the comments during a meeting with some members of the U.S. Congress in New York on Monday while attending the United Nations General Assembly meeting this week, the statement said.
“President Lee said there is concern that instability can arise in South Korea’s foreign exchange market during the course of tariff negotiations with the U.S. but the two sides will be able to find a solution that ensures commercial rationality,” it said.
South Korea is in talks to finalize a trade deal with the United States to lower import duties imposed by President Donald Trump.
Lee has said a huge investment from South Korea in the U.S. proposed as part of the deal could impact the country’s foreign exchange reserves.
(Reporting by Jack Kim; Editing by Christian Schmollinger)