South Korea says to take into account U.S.-Japan deal ahead of trade talks with Washington
South Korea will take into account details of a recent trade deal reached between the United States and Japan in a bid to use it as a possible reference for Seoul's trade negotiations with Washington, the presidential office said Wednesday, Yonhap reports.
U.S. President Donald Trump said Tuesday (local time) that Washington had reached an agreement with Japan to cut proposed reciprocal tariffs on Japanese goods from 25 percent to 15 percent, adding the deal also includes Tokyo's $550 billion investment pledge.
South Korea is also seeking to reduce 25 percent reciprocal U.S. tariffs, as well as sectoral tariffs on autos, steel and aluminum, through a comprehensive trade proposal ahead of the Aug. 1 deadline set by the Trump administration.
"Details of the U.S.-Japan trade agreement are currently under review. If there are aspects that can serve as a reference for our government's negotiations, we plan to take them into account," presidential spokesperson Kang Yu-jung told reporters in a briefing.
With the deadline approaching, Trade Minister Yeo Han-koo and Finance Minister Koo Yun-choel are slated to attend the "2+2" trade talks with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer in Washington on Friday. Newly appointed Industry Minister Kim Jung-kwan also departed for the U.S. earlier in the day, while National Security Adviser Wi Sung-lac is already in Washington.
"(The officials) will find the most beneficial solution for our national interest in the tariff negotiations," Kang said.
Earlier, it was reported that U.S. President Donald Trump has reached trade deals with Japan, the Philippines and Indonesia.
