SME Times is powered by   
Search News
Just in:   • India-Russia friendship steady like pole star amid global uncertainty: PM Modi  • Automobiles, electronics, manufacturing sectors to benefit from India-Russia trade ties  • RBI cuts repo rate by 25 basis points to 5.25 per cent to spur growth  • PM Modi hosts private dinner for Putin ahead of Friday's key India-Russia summit  • India, Russia bolster bilateral ties in fisheries, dairy sectors 
Last updated: 19 May, 2025  

skorea5.jpg South Korea, US to hold 2nd round of tariff talks in Washington this week

skorea5.jpg
   Top Stories
» India-Russia friendship steady like pole star amid global uncertainty: PM Modi
» RBI cuts repo rate by 25 basis points to 5.25 per cent to spur growth
» A friend indeed: Putin’s arrival marks geopolitical signal in current global order
» India aims to lead global green maritime future: Minister
» Finance Ministry does not issue any direction to LIC on investment of funds: FM Sitharaman
IANS | 19 May, 2025

South Korea and the United States are scheduled to hold a second round of technical discussions in Washington this week regarding the latter's sweeping tariff scheme, as the two sides are working toward forging a "package" deal by early July, officials said on Monday.

A South Korean government delegation is expected to depart for Washington around Tuesday to engage in the talks, which could begin as early as Tuesday (US time), according to officials from the Ministry of Trade, Industry and Energy.

The two sides were to discuss six key areas of trade imbalances, non-tariff measures, economic security, digital trade, country of origin of products and commercial considerations, they added, reports Yonhap news agency.

Last month, the U.S. began imposing reciprocal tariffs on partner nations, including 25 percent duties on South Korea, only to pause them shortly afterward to allow for one-on-one negotiations.

Seoul and Washington subsequently agreed to work toward a "July package" deal on trade and other related issues before July 8, when Trump's 90-day pause on reciprocal tariffs is to expire.

Following the first round of working-level discussions in Washington earlier this month, Industry Minister Ahn Duk-geun and Trade Minister Cheong In-kyo each held separate meetings with U.S. Trade Representative (USTR) Jamieson Greer on South Korea's southern island of Jeju last week, where they reiterated their request for a complete tariff exemption.

"We are closely watching the situation, as there is a possibility that the U.S. may present specific demands related to tariffs and economic cooperation during the upcoming session," a ministry official said.

"We first need to identify the U.S. demands in order to conduct necessary domestic discussions," he added.

The South Korean government has said it will approach the talks with the U.S. in a measured and prudent manner, without haste, as the country faces a presidential election on June 3.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
₹88.70
₹87
UK Pound
₹119.90
₹116
Euro
₹104.25
₹100.65
Japanese Yen ₹59.20 ₹57.30
As on 30 Oct, 2025
  Daily Poll
Who do you think will benefit more from the India - UK FTA in the long run?
 Indian businesses & consumers.
 UK businesses & consumers.
 Both will gain equally.
 The impact will be negligible for both.
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter