South Korea and U.S. Brace for Trade Talks Amid Auto Tariff Tensions

South Korea's Industry Minister Ahn Duk-geun prepares for trade talks with the U.S., focusing on resolving auto tariffs. Despite a recent fall in auto exports to the U.S., South Korea remains poised to negotiate, potentially using defence costs and LNG project investments as leverage.

South Korea's Industry Minister Ahn Duk-geun expressed his readiness for trade discussions with the United States, particularly addressing the contentious auto tariffs. With 25% tariffs looming over the auto sector, South Korea aims to swiftly negotiate a resolution.

Exports to the U.S. have seen a decline, prompting emergency measures in response. The auto industry significantly affected, recorded a 6.5% drop in automobile exports. South Korea anticipates leveraging defence cost discussions and LNG projects during negotiations.

While reopening cost-sharing talks for U.S. troops in South Korea remains controversial, both nations are set to explore various avenues for trade collaboration. South Korea might propose joint participation in an Alaskan LNG project with regional partners.

(With inputs from agencies.)