US, South Korea end first tariff talks without deal after Trump threat

The United States and South Korea did not reach a conclusion in the first day of face-to-face talks on trade issues, the Yonhap News Agency reported on Friday, after US President Donald Trump threatened to raise tariffs on the country’s goods.

South Korea’s Industry Minister Kim Jung-kwan, who visited the US Department of Commerce in Washington for talks, said he will meet Secretary of Commerce Howard Lutnick again tomorrow.

Trump complained on social media on Monday that South Korea’s parliament has not passed bills to enact a trade deal which was agreed last year, and vowed to increase duties on autos and other goods.

The remarks appeared to catch Seoul by surprise and left officials scrambling to assure the U.S. it remained committed to implementing the trade deal, which includes making huge investments in U.S. business projects in return for tariff cuts.

Trump said the United States and South Korea would work out a solution.

South Korea’s trade envoy Yeo Han-koo also left Seoul for Washington for talks with Trump’s trade negotiator Jamieson Greer. Reuters