S. Korea, US begin tariff talks

South Korea has wrapped up its first official trade talks with the United States, with its delegation requesting tariff exemptions and calling for "calm and orderly" consultations.

Choi Sang-mok, South Korea's deputy prime minister and minister of economy and finance, and Ahn Duk-geun, minister of trade, industry and energy, held a 2+2 trade consultation with US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer in Washington, DC, on Thursday.

According to a news release from Seoul's Ministry of Economy and Finance, Choi expressed the South Korean public's concerns regarding US tariff hikes.

Choi also explained the need for "calm and orderly" discussions, considering the current domestic situation in South Korea.

US President Donald Trump announced a 25 percent "reciprocal tariff" on imports from South Korea on April 9, but later paused it until July to allow for negotiations.

South Korea is also affected by 25 percent tariffs on automobiles and steel, its main export products to the US, which was announced earlier.

At the meeting, Ahn requested an exemption for "reciprocal tariffs" and item-specific tariffs.

Ahn also proposed ways for both nations to contribute to sustainable and balanced bilateral trade, including offering to enhance energy cooperation and help the US rebuild its shipbuilding industry.

Held at the invitation of Bessent, Trump was not involved in the meeting, though he did appear at trade talks with Japan on April 16.

The meeting was the first official intergovernmental discussion involving the finance and trade ministers of both countries, South Korea's Finance Ministry said.

Political uncertainty

Sung Soo Eric Kim, founder and CEO of Datacrunch Global in Seoul, told China Daily that political uncertainty in South Korea has complicated trade talks.

He said the impeachment of former president Yoon Suk-yeol has left the country without a legitimate presidential authority to engage in high-level negotiations, making it difficult for the delegation to finalize or commit to any binding agreement.

With a snap presidential election scheduled for June 3, the opposition parties have criticized the government for leading the trade negotiations with the US. The opposition said such decisions should be left to the next government.

At the 2+2 meeting, Seoul and Washington agreed to pursue a trade deal by July 8, reported South Korea's Yonhap News Agency, citing Choi.

Choi also said the two sides did not mention cost-sharing for the US military stationed in South Korea.

"I view the April 24 visit primarily as a fact-finding and preparatory mission," said Kim, who is also an adjunct professor at the Graduate School of Business at Seoul's Yonsei University.

With South Korea's presidential transition in progress, he said a pragmatic solution would be a partial agreement on mutual consensus areas, while extending the 25 percent tariff deadline to let the new government review and renegotiate final terms.

South Korea's Ministry of Trade, Industry and Energy and the Office of the US Trade Representative will start working-level talks next week.

"It is evident that the US is pushing for accelerated trade negotiations", said Nam Youngsook, a professor of international studies at Ewha Womans University in Seoul, in an interview with South Korea's news channel SBS Biz.

kelly@chinadailyapac.com