South Korea and the United States concurred on joint efforts to craft a "package" agreement on new U.S. tariffs, and economic and industrial cooperation issues by early July, Seoul's finance minister said, as the allies held high-level trade talks in Washington, DC.
The South Korean economy posted negative growth from three months earlier in the first quarter, the first on-quarter contraction in nine months, central bank data showed on Thursday, amid a domestic political crisis and uncertainties stemming from the Donald Trump administration's sweeping tariff scheme.
South Korea's exports of steel products to the United States declined nearly 19 percent from a year earlier in March, data showed on Friday, a possible outcome of heavy tariffs imposed by the Donald Trump administration on all steel imports starting last month.
