South Korea and U.S. Eye 'July Package' to Resolve Trade Tensions

South Korea and the United States are in talks to craft a trade package to lift U.S. tariffs before July. With both countries expressing different levels of optimism and urgency, discussions focus on tariffs, economic security, and investment cooperation, amid South Korea's looming presidential election.

South Korea and the U.S. are working toward a 'July package' that seeks to remove new U.S. tariffs before reciprocal tariffs resume. The first round of trade talks, marked as 'successful' by U.S. Treasury Secretary Scott Bessent, aims to accelerate discussions around key economic issues.

Both sides remain cautious, with South Korea highlighting a need for additional time as elections approach. Discussions are set to focus on tariffs, economic security, and currency policy, but experts are skeptical about a deal before South Korea's June election, reflecting differing national priorities.

Prime Minister Han Duck-soo supports the talks but faces political opposition from the Democratic Party, criticizing the timing of negotiations. The discussions also align with separate U.S.-Korea discussions on currency policy and potential energy cooperation, such as the Alaska LNG project.

(With inputs from agencies.)