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Seoul, Washington to hold last round of trade talks before June 3 election

Published: 20 May. 2025, 16:58 Updated: 21 May. 2025, 14:16

Export-ready cars are parked waiting for shipment at a port in Pyeongtaek, Gyeonggi, on March 31. [NEWS1]

Officials from Korea and the United States will hold working-level consultations in Washington from Tuesday to Thursday to negotiate the reduction of reciprocal and item-specific tariffs, including those on steel, automobiles and semiconductors.

The talks, led by Chang Sung-gil, director general for trade policy at the Ministry of Trade, Industry and Energy, mark the second round of technical discussions with the Office of the United States Trade Representative. Officials expect this to be the final in-person meeting before Korea’s presidential election on June 3.

Both sides will discuss six key areas: balanced trade, nontariff measures, economic security, digital trade, rules of origin and commercial considerations. Trade ministers from both countries confirmed the meeting schedule last week during the Asia-Pacific Economic Cooperation Trade Ministers’ Meeting in Jeju.

Export-ready cars are parked waiting for shipment at a port in Pyeongtaek, Gyeonggi, on May 20. [NEWS1]

Given the broad scope of topics, the Korean delegation will include officials from not only the Industry Ministry — which is leading the negotiations — but also from related ministries such as the Ministry of Economy and Finance, the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Oceans and Fisheries, the Ministry of Science and ICT and the Ministry of Employment and Labor.

The government plans to convey Korea’s position clearly through these officials and to conduct substantive negotiations.

The United States has long claimed in its annual National Trade Estimate Report that various nontariff barriers exist in Korea, ranging from restrictions on the import of beef from cattle over 30 months of age to limitations on exporting detailed maps by Google, drug pricing policies and the screen quota system for films.

Seoul intends to emphasize its willingness to pursue trade balance by expanding imports from the United States, as well as the strategic importance of bilateral industrial cooperation — particularly in shipbuilding, a key interest for Washington — in an effort to obtain waivers or significant reductions in the 25 percent reciprocal tariffs and item-specific tariffs on automobiles, steel and semiconductors.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY JEONG JAE-HONG [[email protected]]