“South Korea and the United States agreed on Thursday on joint efforts in the development of a “package” agreement on new US tariffs and issues of economic and industrial cooperation before the pause in mutual tariffs will end in July.”, – WRITE: www.pravda.com.ua
Source: Yonhap
Details: Minister of Finance of South Korea Chkhve San MOC told reporters that both parties agreed to conclude an agreement by July 8-when the 90-day pause of US President Donald Trump on “mutual” tariffs-through negotiations concentrated in four categories: tariffs and non-tariff measures; economic security; investment cooperation; Monetary policy.
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To this end, the Seoula Ministry of Industry and the US Trade Representative’s office plan to start working at the working level next week, and the Trade Representative Jajmisson Grir will visit South Korea for a high level in the framework of the Asian-Pacific Economic Economic Cooperation Ministers on May 15.
These broad arrangements were reached during the San Moka San Moku meeting and the Minister of Industry of the HUNU DUK with US Finance Minister Scott Bessent and Garre at Two Plus Two Trade Consultations, which took place at the US Finance Ministry for 85 minutes.
Direct language Chchwe San Moka: “Our side believes that both parties have come to a joint understanding that they will develop a” July Package “aimed at cancellation (American – ed.)
Details: The publication notes that, according to Seulian officials, this week’s negotiations have set a wide framework of how future bilateral negotiations on tariffs and other issues that are a deviation from preliminary discussions that were conducted somewhat unorganized.
Direct language San Moka: “We believe that thanks to today’s” Two Plus Two “meeting, which has become a starting point for consultations, we have set a basic framework, narrowing a range of issues for negotiations and reaching an understanding of the consultation schedule.”
Details: The negotiations took place after the Trump administration began to introduce mutual tariffs for individual countries, including 25 percent duties for South Korea, but shortly after that it suspended their effect.
Bessent called trade talks with South Korea “very successful.” He suggested that the parties could move faster than expected, and reported that the technical details were planned next week.
Recall: Taiwan’s main financial regulator stated on April 19 that it would continue temporary restrictions on short stocks to help ensure the stability of the stock market.