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South Korea’s trade negotiator to visit US this week for talks.

deals & business :: 2025-04-20 :: source - bloomberg

By Soo-Hyang Choi

(Bloomberg) — South Korea’s top trade official will visit Washington this week to kick start trade negotiations as it seeks to be among the first nations to persuade the Trump administration to ease or eliminate tariffs on its shipments. Supply Lines is a daily newsletter that tracks global trade. Sign up here.

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Industry Minister Ahn Duk-geun will depart Seoul on Wednesday for his third US trip since Donald Trump’s inauguration. He’ll join Finance Minister Choi Sang-mok in a meeting with Secretary of Treasury Scott Bessent and Trade Representative Jamieson Greer.

“The consultation is taking place at the suggestion of the US and we are currently coordinating details of the schedule and agenda,” the Industry Ministry said in a statement Sunday.

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South Korea will be among the first nations to sit down with the US after Trump assessed so-called reciprocal tariffs on all US trade partners. South Korea was slapped with a 25% across-the-board tariff that has been temporarily reduced to 10% for 90 days. As with other nations, the Asian export powerhouse also faces a 25% levy on shipments of cars, steel and aluminum.

Ahn’s visit comes shortly after Japan opened discussions with the US last week. Those talks did not result in an immediate halt to the tariffs, but preparations are underway for a second round of talks later this month, Japan’s lead negotiator, Ryosei Akazawa, said after meeting with his US counterparts.

South Korean officials are bracing for Trump’s possible participation at the discussions after the president surprised the Japanese delegation with an appearance during Akazawa’s visit. Trump later touted “big progress” in those talks.

The government in Seoul is reviewing multiple packages to present to the Trump administration as it seeks to narrow its trade surplus with the US. Shipbuilding cooperation, the Alaska pipeline project and defense cost sharing are among the topics that could be discussed at the negotiating table.

South Korea is one of the nations most vulnerable to protectionist policies as its economy relies heavily on earnings from abroad. Even before the fresh levies, South Korea’s economy was reeling due to political turmoil triggered by former President Yoon Suk Yeol’s December martial law decree.

The Bank of Korea kept its benchmark interest rate steady last week citing uncertainties and warned the economy could see negative growth in the first quarter as downside risks have increased significantly since February.

“It feels like we’ve suddenly entered a dark tunnel,” Governor Rhee Chang-yong said in a post-decision press conference.

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