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Navigating Trade Tensions: South Korea and the USA
2025-04-20 12:29:09
Asia
USA
Business

Navigating Trade Tensions: South Korea and the USA

South Korea is set to engage in crucial tariff negotiations with the United States next week. Trade and Finance Ministers will meet in Washington to address the tariffs proposed by President Trump, which pose risks to South Korea's export-driven economy.

The acting president has shown a willingness to cooperate, acknowledging the historical ties between the two nations. Meanwhile, China has urged the US to retract its tariffs, labeling recent exemptions inadequate.

Despite escalating tensions and record-high tariffs on Chinese goods, President Trump remains hopeful about reaching a favorable trade agreement. Both South Korea and China are navigating complex diplomatic landscapes as they seek to safeguard their economic interests amid rising trade friction.

Related news on that topic:

Trade Tensions and Optimism Amid U.S.-China Tariffs

U.S. President Donald Trump is signaling a willingness to negotiate a trade deal with China, despite historic tariffs reaching up to 245% on Chinese imports. Trump's administration has imposed these tariffs, triggering retaliatory measures from China. Both nations express readiness to return to the negotiating table, yet formal talks remain unscheduled. President Trump maintains a positive outlook, citing a good relationship with Chinese President Xi Jinping as a foundation for potential resolution. The trade dispute has led to significant economic repercussions. China's economy, while growing at 5.4%, faces uncertainties due to the complex global environment. The U.S. market also experiences volatility amid these tensions. Nevertheless, the Trump administration shows optimism, echoed by Treasury Secretary Scott Bessent, who remains hopeful about economic indicators. In Europe, Trump has met with Italian Prime Minister Giorgia Meloni, discussing tariffs and expressing optimism about reaching a deal with the EU. As tensions escalate, other nations, including India, reevaluate trade strategies with the U.S. Meanwhile, China's government encourages positive market expectations, aiming to mitigate the negative impact of the ongoing trade war. Despite these challenges, both countries appear open to dialogue, seeking a resolution to the dispute.

US-China Tariff Talks: A Tenuous Path to Resolution

The ongoing trade negotiations between the United States and China have captured global attention, with both countries grappling to resolve their tariff disputes. US President Donald Trump has signaled a potential de-escalation in the tit-for-tat tariff increases that have marked the trade conflict between the world's two largest economies. Despite expressing reluctance to impose further tariffs, tensions remain high as new port fees on Chinese-built ships were announced. Markets across Asia are fluctuating in response to the uncertainty surrounding these negotiations. The Tokyo stock exchange led gains despite rising inflation, while Chinese onshore stocks experienced declines amid disappointment over the lack of progress in talks. The CSI 300 and Shanghai Composite Index both fell, influenced by the stagnant state of negotiations. Trump has expressed optimism about reaching an agreement soon, highlighting ongoing discussions with Chinese officials. While he refrained from detailing his communications with Chinese President Xi Jinping, he remains confident that a deal is achievable in the near future. The outcome of these discussions is critical for global markets, as it will influence trade dynamics and economic expectations. Meanwhile, Chinese officials have called on the US to correct its approach and remove tariffs, criticizing the recent exemptions as inadequate. As the trade talks continue, businesses, particularly in regions like Hong Kong, are seeking alternative markets to mitigate the impact of US tariffs. The resolution of the US-China trade conflict remains uncertain, with both sides navigating a complex landscape of economic interests and political pressures. The coming weeks will be crucial in determining the future of this significant global economic relationship.

Read 6 more recent news on this topic

The press radar on this topic:

t-online
20. April 2025 um 08:23

South Korea and the USA plan tariff negotiations

South Korea will negotiate with the US government next week about the tariffs threatened by President Donald Trump. Trade Minister Ahn Duk Geun and Finance Minister Choi Sang Mok are traveling to Washington to discuss the measures that could particularly affect the export-dependent South Korean economy. Acting President Han Duck Soo signaled a conciliatory attitude and emphasized South Korea's historical debt to the USA, which provided support after the Korean War. Previously, Trump had announ..
Tagesspiegel
20. April 2025 um 08:24

Global Trade: South Korea and the USA Plan Tariff Negotiations

South Korea will negotiate with the US government next week regarding the tariffs threatened by President Donald Trump. The talks are scheduled for Thursday and Friday and are being held at the request of the US government. South Korea's transitional president Han Duck Soo has already announced that he will not resist the US tariffs by highlighting South Korea's historical debt to the USA.
The Street
21. April 2025 um 17:48

China tells Trump to ‘correct mistakes’ and drop tariffs

China has urged U.S. President Donald Trump to eliminate the recently imposed tariffs on Chinese goods, describing recent exemptions as insufficient. The Chinese Commerce Ministry called for the U.S. to 'correct its mistakes' and return to respectful dialogue. This statement follows the Trump administration's decision to exempt certain tech products from a 145% tariff on Chinese imports, which benefitted companies like Apple. The trade tensions escalated earlier this month when the U.S. increa..
The Street
25. April 2025 um 12:07

Trump says 'we will make a good deal with China,' despite tariffs at record 245%

President Donald Trump remains optimistic about a trade deal with China, saying 'we will have a deal' despite historic high tariffs. The US has raised tariffs to 245% on Chinese imports, prompting retaliatory measures from the Chinese government. Both sides have indicated a readiness to continue negotiations, but no formal talks are scheduled as of now. Chinese commerce ministry spokesperson He Yongqian attributed responsibility for resolving the dispute to Washington.
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