South Korea and US Set Sights on Tariff Evasion Accord

South Korea and the United States are formulating a trade package to evade new U.S. tariffs before July. The initial trade talks were successful, with agreements on future discussions. Key focus areas include tariffs, economic security, and investment cooperation amid upcoming political changes in South Korea.

South Korea and the United States are swiftly moving towards crafting a strategic trade package designed to sidestep new U.S. tariffs, according to announcements following their initial talks in Washington.

The meeting, described as 'very successful' by U.S. Treasury Secretary Scott Bessent, concluded with plans for technical discussions, potentially as early as next week. South Korean officials are seeking tariff exemptions in industries such as shipbuilding and energy.

Future discussions are set to cover tariffs, non-tariff measures, and economic cooperation, with political pressures in South Korea potentially influencing the proceedings amid their scheduled snap election.

(With inputs from agencies.)