SEOUL, July 25 (AJP) - South Korean and U.S. trade officials failed to reach a breakthrough on tariff negotiations during high-stakes talks in Washington on Friday, leaving Seoul with limited time to secure a deal before a key deadline next week.
South Korean Industry Minister Kim Jeong-kwan and Trade Representative Yeo Han-gu met with U.S. Commerce Secretary Howard Lutnick for 80 minutes, but the discussions ended without agreement, according to a statement from South Korea’s Ministry of Trade, Industry and Energy.
The meeting came after the abrupt cancellation of a separate session between South Korean Deputy Prime Minister and Finance Minister Koo Yun-cheol and U.S. Treasury Secretary Scott Bessent, raising tensions around the negotiations.
Minister Kim reportedly urged tariff relief on South Korean exports, particularly automobiles, and called for reciprocal tariff exemptions. He also proposed deeper cooperation in key manufacturing sectors such as semiconductors, shipbuilding and batteries, arguing that closer ties in strategic industries should be taken into account when resolving tariff issues.
While both sides reaffirmed their intent to reach a “mutually beneficial agreement,” no concrete progress was announced.
The urgency is mounting ahead of the August 1 expiration of a moratorium on reciprocal tariff measures imposed under U.S. President Donald Trump.
In remarks to CNBC ahead of the meeting, Secretary Lutnick signaled growing pressure on South Korea to make concessions.
“Korea, like Europe, very much wants to make a deal,” he said, citing Japan’s recent tariff agreement with the United States as a benchmark.
Under that deal, Japan agreed to cut tariffs on key exports, including autos, from 25 percent to 15 percent. In exchange, Tokyo pledged $550 billion in long-term U.S. investment. Foreign media reports suggest Washington is now seeking a similar commitment from Seoul, estimated at roughly $400 billion.
With less than a week before the tariff freeze lifts, trade analysts warn that South Korea faces a narrowing window to safeguard its export competitiveness while navigating rising U.S. demands for investment and deeper industrial cooperation.
The South Korean trade ministry said additional negotiations would resume “as soon as possible,” though it declined to provide a specific timeline.
reporter
Candice Kim
candicekim1121@ajupress.com
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