S. Korea to make efforts for mutually beneficial trade deal with U.S.

8/7/2025 13:05

South Korea's trade ministry said Tuesday that it will make efforts for a mutually beneficial trade deal with the United States following U.S. President Donald Trump's effective extension of the pause on new tariffs on South Korean products.



The Ministry of Trade, Industry and Energy said in a statement that Seoul had been engaged in fierce negotiations under the principle of putting top priority on national interests since the inauguration of the new government under President Lee Jae-myung who took office on June 4.



The ministry noted that there was not enough time to reach an agreement on all issues, considering Trump's letter an effective extension of the pause on "reciprocal" tariffs on South Korean products.



It vowed to step up efforts to reach a mutually beneficial negotiation outcome in the remaining period so as to rapidly resolve uncertainties coming from tariffs, saying that the Asian country will tackle the U.S. major concern of trade deficit issues through improved domestic rules and rationalized regulations.



The ministry added that it will seek to create an opportunity for a leap forward in core industries through a partnership between the two countries for a manufacturing renaissance.