SEOUL (Reuters) -South Korea’s trade minister Yeo Han-koo will visit the United States from June 22 to 27, the trade ministry said on Saturday. The visit will include discussions with U.S. Trade Representative Jamieson Greer and the third round of bilateral technical discussions, a ministry official told Reuters. Further details about the meetings were not […]
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South Korea’s chief trade negotiator plans US visit June 22-27
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SEOUL (Reuters) -South Korea’s trade minister Yeo Han-koo will visit the United States from June 22 to 27, the trade ministry said on Saturday.
The visit will include discussions with U.S. Trade Representative Jamieson Greer and the third round of bilateral technical discussions, a ministry official told Reuters. Further details about the meetings were not disclosed.
“Since a South Korea-U.S. summit has yet to take place and key ministers have not been appointed under the new administration, negotiations are likely to focus on areas that the trade ministry can manage – excluding major issues such as defense cost – sharing and exchange rates,” Heo Yoon, an economics professor at Sogang University, said. “Given these circumstances, reaching a comprehensive agreement on key negotiation frameworks and agendas is expected to be challenging.”
South Korea, which is currently facing a 10% blanket tariff and a 25% country-specific duty temporarily paused for 90 days, agreed with the U.S. during initial trade negotiations in late April to craft a trade deal reducing tariffs by July 8.
Asia’s fourth-largest economy unexpectedly contracted in the first quarter amid U.S. President Donald Trump’s sweeping tariffs and domestic political unrest following former President Yoon Suk Yeol’s martial law decree in December.
(Reporting by Jihoon Lee and Heekyong Yang; Editing by Jacqueline Wong)