Minister Kim Jung-kwan of the Ministry of Trade, Industry and Resources said on the 29th (local time) that he met U.S. Commerce Secretary Howard Lutnick to negotiate on tariff issues but failed to find common ground. He said the two sides agreed to continue talks tomorrow.
The minister arrived at the U.S. Commerce Department building in Washington, D.C., at about 5 p.m. Kim left the building at about 6:24 p.m. after talks with Minister Lutnick. Kim told reporters, "We talked about a lot, and we decided to meet again tomorrow morning," adding, "It's not concluded yet."
Asked whether he had blocked a U.S. tariff hike, Kim said, "It's not to the point of saying it was blocked or not blocked." Asked whether they discussed the publication schedule in the Federal Register, he said, "We didn't go that far (in the discussion)."
Earlier, President Donald Trump wrote on social media on the 26th that he would raise item-by-item tariffs on Korean automobiles, lumber, and pharmaceuticals and all other reciprocal tariffs (country-by-country tariffs) from 15% to 25%. Trump cited the National Assembly's failure to pass a special law on investment in the United States, which is needed to carry out investment in the United States, as the reason for the sudden tariff hike.