Higher bar after Trump deal with Japan means talks could go past deadline
A cargo ship loads and unloads foreign trade containers in Busan, South Korea, on July 23. South Korea is scrambling to reach a trade deal with the U.S. by Aug. 1. © Getty Images
SEOUL -- South Korea is under pressure to strike a tariff deal with the U.S. as the Aug. 1 deadline approaches after neighboring Japan's agreement with Washington set a higher bar for the Lee Jae Myung government.
Seoul is keen to lower the U.S.'s "reciprocal" 25% tariff to 15% or below, as Tokyo agreed with Washington to cut the rate to that level last week. But the U.S. postponed high-level trade meetings with South Korea, casting a shadow over the outlook for success.
Your personal data will be processed and information from your device (cookies, unique identifiers, and other device data) may be stored by, accessed by and shared with 1 TCF vendor(s), or used specifically by this site or app.
