A new tour of customs duties between South Korea and America

The South Korean Deputy Prime Minister will meet the US Treasury next week, before the deadline set by Washington to reach an agreement on customs duties, as the presidency announced on Saturday.
The presidency said in a statement: “Deputy Prime Minister Ko Yun Shuol, US Secretary of State, US Treasury Secretary Scott Besent and Foreign Minister Marco Rubio will meet next week.”

Customs negotiations between South Korea and America

The statement was issued during a meeting at the Presidential Office, during which the Minister of Industry, Kim Jong Koan, was briefed on the outcome of his talks with US Minister of Trade Howard Lootnick on Tuesday.
The statement stressed that “the government is committed to making all its efforts to complete before the deadline specified on the first of August.”
US President Donald Trump threatened to impose customs duties by 25% on South Korea unless a trade agreement is reached by this date.

The announcement of this meeting comes after the cancellation of the talks scheduled for last week due to an “emergency agenda” of the US Treasury Secretary.

American customs duties

The statement added that Seoul confirmed “Washington’s great interest” in the shipbuilding sector, which may constitute a profitable paper in negotiations, and that she agreed to work for cooperation in this sector.
South Korea is the second largest country in this field after China, and in front of the growing tensions in the Taiwan Strait, the United States is heading to shipbuilding basins abroad to enhance its operations in the Asia and Pacific region, making South Korea a major defense partner.
In 2024, the South Korean company “Hanoa Ocean” became the leading shipbuilding company, the first non -American company to obtain a US Navy shipment license in a dry basin.