South Korea Trade Minister Plans US Visit Amid Tariff Talks

South Korea's Trade Minister Yeo Han-koo is scheduled to visit the United States from June 22 to 27 to engage in critical tariff negotiations with U.S. Trade Representative Jamieson Greer as both countries work toward a trade deal by the July 8 deadline. South Korea faces a 10% blanket tariff and a 25% country-specific duty imposed by the Trump administration, temporarily paused for 90 days, and is seeking to reduce these tariffs amid political uncertainty and economic challenges. The upcoming talks will focus on tariff and non-tariff measures, economic security, investment cooperation, and currency policies, excluding major issues like defense cost-sharing and exchange rates due to the lack of a South Korea-U.S. summit and key ministerial appointments. The Trump administration has expressed concerns about South Korea's trade surplus and non-tariff barriers, highlighting issues such as import bans on certain U.S. beef and restrictions on high-precision map data transfers. South Korea recently formed a task force led by Yeo to address these negotiation challenges, aiming for a "win-win" agreement despite the complexities posed by political upheavals and the economic contraction following the tariffs and domestic unrest. Both nations are under pressure to finalize a comprehensive framework that balances trade interests and addresses barriers before the tariff suspension expires.