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What's on the table for US-South Korea trade talks?
The Straits Times
|April 25, 2025
A South Korean delegation was scheduled to meet US counterparts in Washington on April 24 for trade talks.
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SEOUL -
US President Donald Trump has said he wants to hold "one-stop shopping" negotiations and has mentioned the trade balance, tariffs, shipbuilding, energy cooperation and military cost sharing as issues for discussion.
Here are some of the key issues that may be discussed.
TARIFFS South Korea faces looming reciprocal tariffs, which Mr. Trump set at 25 per cent, as well as item-specific tariffs on products such as steel, cars and semiconductors.
It will likely seek to lower the reciprocal tariff rate to the baseline 10 per cent, but may struggle with the item-specific levies.
The US-Korea Free Trade Agreement has reduced bilateral tariffs to 0.79 per cent in 2024, but Washington could ask Seoul to lower remaining tariffs on US agricultural goods such as rice and fruit.
Denne historien er fra April 25, 2025-utgaven av The Straits Times.
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