South Korea, U.S. Engage in Critical Trade Negotiations Ahead of Tariff Deadline

South Korea and the United States have engaged in high-level trade talks to address tariffs and strengthen economic cooperation, with both sides expressing a desire for calm and constructive negotiations. South Korean officials emphasized the need for mutually beneficial solutions and requested tariff exemptions, particularly as the temporary suspension of 'reciprocal' tariffs is set to expire in July. Seoul is approaching the negotiations with caution, aiming to secure exemptions from new U.S. tariffs and protect its export-driven economy. While both countries agreed on the importance of rapid progress toward balanced and reciprocal trade, there is some divergence regarding the timeline for reaching a final agreement, with the U.S. suggesting an earlier conclusion than South Korea. The discussions also included potential collaboration on shipbuilding and energy security, as well as easing of non-tariff barriers. Both sides plan to continue working-level and high-level meetings to finalize a deal.