South Korea Negotiates US Trade Deal Ahead August Tariff Deadline

South Korea is urgently seeking a mutually agreeable trade deal with the United States ahead of the August 1, 2025 deadline to avoid a 25 percent U.S. tariff on its exports. High-level talks involving South Korean officials, including Deputy Prime Minister Koo Yun-cheol and Foreign Minister Cho Hyun, are scheduled with U.S. Treasury Secretary Scott Bessent and Secretary of State Marco Rubio, underscoring the pressure to finalize an agreement comparable to Japan's recent deal with lower tariffs. Central to the negotiations are key sectors like semiconductors and shipbuilding, with the U.S. pushing for collaboration in cutting-edge technologies and South Korea proposing a $100 billion investment package to align interests. South Korea's semiconductor giants, Samsung Electronics and SK Hynix, face significant risks from tariffs that could disrupt supply chains critical to U.S. tech ambitions, while the automotive sector is also closely watched. Both sides have reiterated their commitment to concluding talks promptly to stabilize economic relations and global market confidence. The ongoing negotiations also occur amid broader U.S. trade discussions with other partners, including the European Union and China, highlighting the strategic importance of these agreements.