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Lee maintains ambiguity in US tariff talks
President Lee Jae Myung answers a reporter's question about the progress of the tariff negotiations between Korea and the United States during a press conference at Cheong Wa Dae in Seoul, Thursday. Yonhap
By Park Jae-hyuk
Trade minister seeks another Washington visit for extension of July 8 deadline
President Lee Jae Myung maintained a cautious stance on the ongoing tariff talks with the United States, Thursday, declining to reveal the government's plans despite the Donald Trump administration intensifying pressure on its trade partners to sign tariff deals as early as possible.
As uncertainties linger ahead of the end of a three-month pause on U.S. "reciprocal" tariffs on July 8, Seoul's top negotiator is planning another visit to Washington this weekend to request an extension of the deadline.
During a press conference held a month after his inauguration, Lee said it is difficult to confirm whether the U.S. tariff talks can be concluded by July 8.
"It remains unclear what exactly each side wants in order to produce mutually beneficial outcomes," he said. "We are actively identifying and developing many agenda items across various areas. We will do our very best."
Trade Minister Yeo Han-koo speaks during a meeting at the Korea Trade Insurance Corp. in Seoul, Thursday. Courtesy of Ministry of Trade, Industry and Energy
While the president refrained from elaborating on the diplomatically sensitive matter, the trade minister convened a meeting the same day to discuss how to brief the National Assembly the following day about the government's plans for the U.S. tariff negotiations.
"With the U.S. tariff suspension nearing an end, the outlook for the path of U.S. tariff policies, including whether the suspension will be extended, remains highly uncertain and unpredictable," he said. "We will do our best to ensure that Korea is not put at a disadvantage compared to its peers, as major countries are actively engaging in last-minute negotiations with the U.S."
According to the Ministry of Trade, Industry and Energy, the minister is pushing ahead with another meeting with his U.S. counterparts, whom he met a week earlier. He is expected to tell them that Korea needs more time, as the Lee administration was launched just a month ago.
However, it remains unclear whether the U.S. will accept the request, as Trump said Tuesday he is not considering delaying the deadline and indicated his intent to impose higher tariffs on countries that do not sign tariff deals before July 8.
"We're going to determine a number very simply, write them a nice letter," the U.S. president said aboard Air Force One.
"Probably one page or a page and a half at most, and it's going to be essentially, 'Congratulations. It's going to be an honor to allow you to go and do business in the United States of America,' because it really is an honor to be able to do that."