Korea faces crucial week for tariff negotiations with US

This week will be a crucial time for Korea’s negotiations with the United States over what the latter calls “reciprocal” tariffs, as Washington’s reprieve on the tariff imposition is set to expire on July 8. While the Donald Trump administration is signaling that countries actively accommodating U.S. demands may be granted more time to negotiate, it will be difficult for Seoul to reach a trade agreement by the deadline, given that the Lee Jae Myung administration has been in office for less than a month. Experts say that the best possible scenario for the country is extending the reprieve period and using a potential Lee-Trump summit to establish a long-term trade framework. During a press briefing on Friday (local time), Trump said that his administration will “send out a letter” over the next week and tell them “what they have to pay to do business in the United States,” noting, “We could extend it (the reprieve).” U.S. Treasury Secretary Scott Bessent also told Fox Business that the Trump administration could wrap up its trade talks with countries by Sept. 1, addiWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times