South Korean Acting President Han Duck-soo announced on Monday that US President Donald Trump has instructed tariff negotiations with South Korea, Japan, and India to begin right away. Han made the announcement in a meeting with business leaders and government officials, citing a call between Trump and him last week.
We talked over what we are to do on the enforcement of United States’ reciprocal tariffs, and which items South Korea and the US will negotiate,” Han said, citing Yonhap News Agency. He added, “President Trump was very contented and reportedly issued orders (to his aides) to initiate immediate negotiations with South Korea, Japan and India.”
South Korea Readies for Delegation to US
Han Duck-soo further stated that South Korea is going to dispatch a delegation, headed by Industry Minister Ahn Duk-geun, to the United States in the near future to initiate negotiations on multiple fronts. He also declared himself open to personally negotiating with President Trump in order to settle the issue if required. “If necessary, I will personally talk to President Trump to facilitate a solution,” Han said, adding that an expected videoconference between the two nations on an LNG cooperation scheme in Alaska should take place in days.
“We are committed to sincerely carrying out win-win talks,” Han added, echoing the nation’s commitment to having positive talks with America.
US Tariffs and Global Trade Impact
The move is made as tensions over international trade, especially with China, escalate. US tariffs on China have been as high as 145 percent this year, while Beijing has responded with a 125 percent wall on US imports. Trump’s exemptions of tariffs on electronics caused rallies in Asian and Wall Street markets on Monday, although fears of a global trade war are still high.
The short pause in duties on luxury tech products, including smartphones, semiconductors, and computers, from China provided a bit of relief in markets, but Trump made it clear that these reprieves might not last. “NOBODY is getting ‘off the hook’ for the unfair Trade Balances,” Trump posted on his Truth Social site, saying, “We are taking a look at Semiconductors and THE WHOLE ELECTRONICS SUPPLY CHAIN.”
