South Korea-US Trade Talks to Start April 24, Focus on Tariffs, Defense Costs

Acting President of South Korea, Han Deok-soo, has announced that trade negotiations between South Korea and the United States are set to commence on April 24 at 8 AM U.S. time. These discussions are anticipated to cover a wide array of topics, including tariffs and defense costs, following a recent phone conversation between Han Deok-soo and former U.S. President Donald Trump. The talks are expected to address various economic and security concerns, with South Korea adopting a conciliatory approach to prevent further escalation of tensions.

The upcoming negotiations are part of a broader effort to stabilize the economic relationship between the two countries, which has been strained by recent tariff disputes. South Korea, currently facing economic challenges such as high household debt and weak domestic demand, is seeking to mitigate the impact of U.S. tariffs on its key industries, particularly the automotive sector. The government has already announced emergency support measures for the automotive industry, underscoring the significance of these negotiations for South Korea's economic stability.

In addition to tariffs, the discussions will also focus on defense costs, a contentious issue that has been a point of contention between the two countries. South Korea has traditionally borne a significant portion of the defense costs, but recent negotiations have aimed to rebalance this burden. The inclusion of defense costs in the trade talks highlights the interconnected nature of economic and security issues between the two nations.

Acting President Han Deok-soo has acknowledged that the negotiations may face challenges, but he remains optimistic about the potential for meaningful cooperation. The outcome of these negotiations will have significant implications for both countries' economies and their broader strategic relationship. The talks are expected to be complex and may not yield immediate results, but they represent a crucial step towards stabilizing the economic and security ties between South Korea and the United States.