South Korea Seeks Trade Deal with U.S. Ahead of Tariff Deadline
Main Idea
South Korea is urgently working to finalize a trade agreement with the U.S. before August 1 to avoid a potential 25% tariff increase on its exports, aiming for terms similar to Japan's 15% tariff cap.
Key Points
1. South Korea is racing to finalize a trade agreement with the U.S. before August 1.
2. Tariffs on Korean exports could rise to 25% if no deal is reached.
3. Seoul aims to secure terms at least as favorable as Japan’s recent 15% tariff cap.
4. Failure to reach a deal risks heavy tariffs on 44% of South Korea’s GDP.
Description
The post South Korea Seeks Trade Deal with U.S. Ahead of Tariff Deadline appeared first on Coinpedia Fintech News South Korea is racing to finalize a trade agreement with the U.S. before August 1, when tariffs on Korean exports could rise to 25%. Seoul aims to secure terms at least as favorable as Japan’s recent 15% tariff cap. Key issues include shipbuilding cooperation, while sensitive topics like beef and rice imports are off the table. Despite strong export growth in tech sectors, failure to...
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