South Korea Reports Progress in Tariff Talks With US
The comments come as criticism grows over the government’s handling of Washington’s recent warning about increasing tariffs on South Korean goods from 15% to 25%. The issue triggered debate at home about whether Seoul was adequately prepared for the announcement.
Speaking at his official residence, the prime minister said multiple diplomatic communication lines have been actively used to manage the situation and better understand Washington’s position. “It's not just the hotline that's in operation, but various existing channels of contact, including the hotline with Vice President Vance, were all put into operation, and through a process of learning each other's true intentions, it is progressing into what we see now,” he told reporters.
The tariff warning, which was unexpectedly posted on social media by the US president, prompted senior South Korean trade officials to travel urgently to Washington to hold discussions with their US counterparts in an effort to reduce uncertainty. Addressing the sudden nature of the announcement, the prime minister said, “This issue was about President Trump's unique messaging method.”
He also dismissed speculation linking the tariff threat to a South Korean probe into a data breach involving a US-listed e-commerce company. “That interpretation is completely different from the truth,” he said.
Meanwhile, South Korea’s financial markets reacted sharply. Stocks fell by more than 5% on Monday, while the national currency weakened significantly against the US dollar. The benchmark stock index dropped 274.69 points to finish the session at 4,949.67.
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