SEOUL (Reuters) -South Korea’s Industry Minister Kim Jung-kwan met U.S. Commerce Secretary Howard Lutnick on Thursday and reaffirmed a commitment to reach a trade deal on tariffs by the August 1 deadline, South Korea’s industry ministry said on Friday.
During the meeting in Washington, the two discussed how cooperation between the two countries’ manufacturing sectors could bolster a deal to lower proposed U.S. tariffs set to be slapped on South Korea, the ministry said in a statement.
“We’ll do our best so that our companies are not put at a disadvantage relative to those in competing countries,” the ministry cited Kim as saying after his meeting.
Kim and South Korea’s Minister for Trade Yeo Han-koo have been in Washington amid intense efforts by Seoul to reach a deal, which one official said were in the “critical final phase.”
Kim earlier met U.S. Energy Secretary Chris Wright and Yeo planned to hold talks with U.S. Trade Representative Jamieson Greer, the ministry said.
Pressure on South Korea heightened this week after Japan clinched a deal with the United States, which U.S. President Donald Trump said would see Tokyo allowing greater market access for American products including autos and some agricultural products.
(Reporting by Jack KimEditing by Ed Davies)
