SEOUL (Reuters) – South Korea is aiming to secure an extension to the 90-day suspension of U.S. tariffs, which is set to expire next week, as ongoing trade talks with Washington are unlikely to conclude before the deadline, a senior South Korean trade official said on Monday.
Last week, South Korea’s new administration held its first high-level trade meeting with the United States, marking the third round of technical negotiations since both countries agreed in late April to work toward a trade package aimed at reducing U.S. tariffs. The current tariff pause is set to end on July 9.
“Some countries may finalize deals by July 8, while others could receive an extension to continue negotiations. Some may choose to keep negotiating under existing tariffs,” the official said during a press briefing.
“We are doing our utmost to secure an extension by July 8,” the official added, noting that a U.S. decision on extensions is expected that day.
Key Trade Issues Still on the Table
According to the official, recent discussions have focused largely on non-tariff barriers raised by the U.S. Since South Korea already imposes minimal tariffs on U.S. goods under the existing free trade agreement, the spotlight has shifted to regulatory and procedural issues.
Meanwhile, separate discussions are ongoing over foreign exchange policies and defense cost-sharing. The U.S. maintains about 28,500 troops in South Korea as a deterrent against North Korea—a long-standing issue in bilateral talks. Former U.S. President Donald Trump frequently criticized Seoul over the financial burden of hosting U.S. forces.
