SEOUL (Reuters) -U.S. President Donald Trump will meet South Korea’s trade delegation, South Korea’s presidential office said on Thursday, as top officials from Seoul are in Washington to cut a last-minute deal on U.S. tariffs.
“South Korea is right now at a 25% Tariff, but they have an offer to buy down those Tariffs. I will be interested in hearing what that offer is,” Trump said in a post on Truth Social.
South Korea’s presidential office said it might hold a media briefing, depending on the outcome of the meeting with Trump.
South Korean Finance Minister Koo Yun-cheol, Industry Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo met U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer on Wednesday, according to the finance ministry.
The industry and trade ministers have been in Washington since last week to reach a deal before August 1, a deadline set by Trump for 25% tariffs to kick in against South Korea, a major U.S. ally and powerhouse exporter of chips, cars and steel.
Pressure has been mounting on South Korea since Japan clinched a deal to cut Trump’s threatened tariffs to 15% earlier this month.
Top business leaders were also reported to be flying in to help lobby for a deal on U.S. tariffs.
The South Korean government is negotiating with the U.S. by setting up a package of trade and offers on industrial cooperation such as in shipbuilding, chips and batteries, officials say.
Amid the last-minute push by government officials to reach a tariff deal, South Korea’s Samsung Electronics inked a $16.5 billion chip deal with Tesla.
South Korean battery maker LG Energy Solution also signed a $4.3 billion deal to supply Tesla with energy storage system batteries, a person familiar with the matter told Reuters.
(Reporting by Ju-min Park; Editing by Leslie Adler, Alistair Bell and Jamie Freed)
