Korea faces final U.S. tariff talks time crunch

The Korean government is preparing for what could be the final round of negotiations before the United States imposes reciprocal tariffs this Friday. However, with U.S. President Donald Trump and key U.S. trade officials focused on talks with the European Union and China, Seoul may have only one day, at most, for high-level, in-person discussions, increasing pressure on Korean negotiators. The urgency grew after Japan unexpectedly finalized a trade agreement with the U.S. on Tuesday, raising concerns that Korea may be forced to accept stringent U.S. demands.

Currently in the U.S., South Korean Minister of Trade, Industry and Energy Kim Jung-kwan and Trade Minister Yeo Han-koo have been engaged in weekend negotiations with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer. Minister Kim even visited Secretary Lutnick’s residence in New York to continue talks. “No final agreement appears to have been reached on major issues," a diplomatic source in Washingtosaid Saturday. "The negotiations will likely go down to the wire.”

Secretary Lutnick reportedly raised a wide range of concerns during discussions, including Korea’s non-tariff barriers, describing the approach as “department store style.” He also noted that “the final decision rests with President Trump,” signaling increased pressure on Korea to meet Trump’s tough standards, as seen in recent negotiations with other countries.

With only about five days remaining before the tariffs take effect, high-level U.S.-Korea meetings will pause after the weekend. This break comes as key U.S. officials leave Washington to conduct talks elsewhere. President Trump has already departed for Scotland, where he will stay through Tuesday for EU-related discussions, including a meeting Sunday with European Commission President Ursula von der Leyen.

Secretary Lutnick and Representative Greer will also be in Scotland for EU talks before traveling to Stockholm, Sweden, for the third round of high-level U.S.-China trade negotiations on Monday and Tuesday. U.S. Treasury Secretary Scott Bessent, a key figure overseeing tariff policies, will join the Stockholm meetings with China. He had planned a 2+2 economic dialogue with Korea’s Deputy Prime Minister and Finance Minister Koo Yoon-chul, but the meeting was canceled just one hour before Minister Koo’s scheduled departure.

The postponed Korea-U.S. finance ministers’ meeting will be held after Secretary Bessent returns to Washington, D.C. Meanwhile, Foreign Minister Cho Hyun will visit the U.S. Thursday to meet with Secretary of State Marco Rubio to support ongoing trade talks.

As a result, Korea now faces a narrow window for final negotiations before the tariff exemption expires. Analysts note Seoul effectively has only Wednesday and Thursday to make progress. “The U.S. seems almost entirely focused on China at the moment," a diplomatic source in Washington said. "Thursday is likely to be the decisive day on many key issues in the U.S.-Korea talks.”

In response to media questions about the trade negotiations, the White House stated, “We continue to have productive negotiations with South Korea to improve market access for American firms.”


윤다빈 기자 empty@donga.com