Seoul: South Korea will work to achieve the "best possible" outcome in the ongoing tariff negotiations with the United States in terms of national interest, the country's new industry minister said on Monday, with less than two weeks left until the August 1 deadline for trade talks with the Donald Trump administration.
According to Qatar News Agency, Industry Minister Kim Jung-kwan emphasized the seriousness of the current situation, stating that all possibilities are being considered in the negotiations with the U.S. "We are in a very serious situation with all possibilities on the table in the ongoing tariff negotiations with the U.S.," Yonhap News Agency quoted Kim as saying.
The industry ministry is reportedly refining its negotiation strategy in collaboration with other relevant ministries. Kim assured that they will exert all-out efforts to ensure a smooth conclusion to the trade talks. He acknowledged the concerns surrounding the tariff negotiations and highlighted the importance of considering these sensitivities to achieve a favorable outcome for South Korea's national interest.
Kim's comments were made during an emergency meeting focused on strategizing for trade negotiations with the Trump administration. The meeting was attended by officials from major business organizations and trade experts.