South Korea and U.S. Negotiate Trade Package Amidst Tariff Tensions

South Korea and the United States are working on a trade package to ease U.S. tariffs. Talks included exemptions, cooperation on shipbuilding, and addressing trade imbalances. However, deal-making is complicated by South Korea's upcoming presidential election. Challenges remain in the automobile sector and currency policy discussions.

South Korea and the U.S. are collaborating to develop a trade package aimed at resolving newly imposed U.S. tariffs. This comes before the reciprocal tariffs pause ends in July, as revealed by Seoul's delegation following their initial talks in Washington.

The U.S. and South Korean officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, engaged with South Korean Finance Minister Choi Sang-mok and Industry Minister Ahn Duk-geun, though specifics on agreements remain undisclosed.

While South Korea seeks exemptions from certain U.S. tariffs and offers cooperation in shipbuilding and energy, broader discussions continue. The presidential election in June adds complexity, with experts doubting a deal can be finalized beforehand.

(With inputs from agencies.)