
South Korea says framework US trade deal possible by August, farm market access on table
Minister for Trade Yeo Han-koo, who held high-level talks with U.S. officials last week, said South Korea was seeking to avoid "unfair" U.S. tariffs on sectors key to its industrial prowess that would undermine industrial cooperation with its main security ally and trading partner, media reports said.
"I believe it's possible to reach an agreement in principle in the U.S. tariff negotiations, and then take some time to negotiate further," the Newsis news agency quoted Yeo as telling local media reporters. "Twenty days are not enough to come up with a perfect treaty that contains every detail."
"We need to make a strategic judgment in the case of the agriculture and livestock sectors," Yeo was quoted as saying, adding "sensitive" areas may need continued protection but some aspects may be considered as part of the overall framework.
There was "considerable progress" in the discussion with U.S. officials over cooperation in key industrial sectors as part of the trade talks, Yeo was cited as saying, but Washington needed to cut industry-specific tariffs on autos and steel.
On Sunday in Maryland, U.S. President Donald Trump told reporters "South Korea wants to make a deal right now," without elaborating what would cement a deal or speculate on a time frame for getting negotiations done.
South Korea is in a race to reach a compromise trade pact in the hope of avoiding a 25% tariff slapped on its exports by Trump that is set to kick in on August 1, after a late start to negotiations with a new president voted in last month.
President Lee Jae-myung took office on June 4 following the ouster of his predecessor Yoon Suk Yeol over a failed martial law attempt. The six months of political turmoil forced Seoul to initially focus on technical discussions over Trump's demands.
Top South Korean officials held meetings in Washington after Trump's announcement, including to negotiate cuts or exemptions from import duties on steel and autos.
A senior South Korean trade official said earlier this month Washington had shown a willingness to consider exemptions on sectoral tariffs, as it had when agreeing a deal with Britain, if South Korea proposed a clear offer to reduce trade deficits.
South Korea earned a record $55.6 billion trade surplus with the U.S. in 2024, up 25% from 2023, led by rising car exports, according to Korea Customs Service data.
South Korea's effective tariff rates stand at near-zero under a free trade agreement first signed in 2007 then revised in 2018 under Trump's first term, according to economists.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Independent
6 minutes ago
- The Independent
Thailand and Cambodia clashes are escalating and could become all-out war, Thai PM warns
Thailand warned its border conflict with Cambodia could 'escalate into a state of war' as fighting expanded to new areas and both sides exchanged heated rhetoric on a second day of clashes on Friday. At least 15 people have been killed in Thailand and one in Cambodia and tens of thousands of people have been displaced on both sides of the contested border. Acting prime minister Phumtham Wechayachai of Thailand claimed Cambodia had deployed heavy weapons on multiple fronts and Bangkok was defending its territory. 'The current situation involves acts of intrusion and aggression that are causing harm to the people's lives. The situation has intensified and could escalate into a state of war. At present, it's a confrontation involving heavy weapons," he told reporters. Fighting expanded to 12 locations on Friday, the Thai military said, up from six the previous day when they first erupted. The two sides blamed each other for starting the conflict amid continued fighting, with Bangkok accusing the rival nation of deliberately targeting civilians and Phnom Penh alleging that Thailand was using cluster munitions, an ordnance banned by an international treaty. The Southeast Asian nations contest several stretches of their 817km land border – partly drawn by Cambodia's French colonial rulers over a century ago – which passes near several archaeologically important religious sites claimed by both countries. The US, a longtime ally of Thailand, urged an immediate end to the ongoing hostilities. State Department deputy spokesman Tommy Pigott said that Washington was 'gravely concerned by the escalating violence along the Thailand-Cambodia border and deeply saddened by reports of harm to civilians'. 'The US urges an immediate cessation of hostilities, protection of civilians and a peaceful resolution of the conflict,' he added. China said that it was 'deeply concerned' about the violent clashes and would 'continue in its own way to do its best to promote peace and dialogue'. The UN Security Council was due to meet on Friday to discuss the conflict. Thailand rejected the possibility of third-party mediation to end the conflict, insisting that Phnom Penh cease attacks and resolve the situation through bilateral talks. "I don't think we need any mediation from a third country yet,' Thai foreign ministry spokesperson Nikorndej Balankura told Reuters. The remarks came after Malaysian prime minister Anwar Ibrahim, chair of the Asean bloc which includes both Thailand and Cambodia, said he welcomed 'the positive signals and willingness shown by both Bangkok and Phnom Penh to consider this path forward'. Thailand has evacuated about 100,000 people from border areas to temporary shelters in four affected border provinces. Cambodian authorities have moved more than 4,000 people to safety. The Thai military reported clashes on Friday in Chong Bok and Phu Makhuea in the Ubon Ratchathani province, Phanom Dong Rak in Surin, and near the ancient Ta Muen Thom temple. In Cambodia, a man died after a Thai rocket struck a Buddhist pagoda where he had taken shelter. In Surin, around 600 people sought refuge inside a university gymnasium roughly 80km from the border. Families huddled on mats and blankets, sharing space and queuing patiently for food and water. Among them was seamstress Pornpan Sooksai, who arrived with four cats nestled in two fabric carriers. "I just heard, boom, boom. We'd already prepared the cages, clothes and everything, so we ran and carried our things to the car. I was frightened, scared," she said, referring to the shelling that began near her home close to the Ta Muen Thom temple on Thursday. Rattana Meeying, another evacuee, lived through the last major border clash in 2011. This time, she said, felt different. "Children, old people, were hit out of the blue," she said. "I never imagined it would be this violent."

Rhyl Journal
6 minutes ago
- Rhyl Journal
Trump visit is in the public interest, says Chancellor
Mr Trump is due to touch down in Scotland on Friday evening ahead of a four-day visit, during which he will meet Prime Minister Sir Keir Starmer and First Minister John Swinney. His meeting with Sir Keir is seen as a chance to refine the UK-US trade deal which came into force last month. Speaking to journalists during a visit to the Rolls-Royce factory near Glasgow Airport on Friday morning, the Chancellor talked up the importance of the visit. 'It's in Britain's national interest to have strong relations with the US administration and as a result of both that long-term special relationship, but actually more importantly, the work that our Prime Minister Keir Starmer has done in building that relationship with President Trump has meant that we were the first country in the world to secure a trade deal,' she said. 'That has a tangible benefit for people here in Scotland, whether it is people working in the Scotch whisky industry or people working in the defence sector like here at Rolls-Royce, that trade deal means lower tariffs than any country in the world on things that we send to the US.' Ms Reeves dodged a question relating to senior ministers – including Health Secretary Wes Streeting, Foreign Secretary David Lammy and Scottish Secretary Ian Murray – supporting a motion when in opposition in 2019 calling for the president's first state visit to be cancelled and accusing him of 'misogynism, racism and xenophobia'. Mr Trump is expected to visit both of his golf clubs in Scotland – in South Ayrshire and Aberdeenshire – during the visit, which has been described as 'private' by the White House, before leaving on Tuesday. His presence is likely to spark protests across the country, with Police Scotland being forced to request aid from other forces to help increase manpower for the trip. In a carefully worded statement ahead of the visit, Mr Swinney said the focus it will bring to Scotland will allow people to have their voice heard on issues including 'war and peace, justice and democracy'. Mr Swinney added: 'As First Minister it is my responsibility to advance our interests, raise global and humanitarian issues of significant importance, including the unimaginable suffering we are witnessing in Gaza, and ensure Scotland's voice is heard at the highest levels of government across the world. 'That is exactly what I will do when I meet with President Trump during his time in Scotland.' The First Minister said Scotland is a 'proud democratic nation' that 'stands firm on the principles of equality and freedom for all, and a society that stands up for a fair and just world'. He also urged those seeking to protest to do so peacefully. 'I am confident the vast majority of people protesting will do Scotland proud and demonstrate as they should – peacefully and lawfully,' Mr Swinney said. 'I am also confident that Scotland's police service can handle the challenge of keeping all our communities safe and, as they must, in maintaining the appropriate security any US president requires. 'This weekend is a landmark moment in our relationship with the United States, and I am certain it will be remembered for Scotland showing the world the very best of itself.'


BBC News
6 minutes ago
- BBC News
How the Epstein case is tearing apart Maga's conspiracy wing
It seems like a simple decision for Donald Trump's administration – release files related to the late convicted paedophile financier Jeffery Epstein, or keep them out of public battles raging among the US president's supporters in some of the more conspiratorial spaces online suggest that the choice facing Trump is not easy at those spaces, users argue about whether to trust the White House, and they speculate on what might be going on behind the scenes and Trump's strategic acumen - which some fans liken to playing a game of "4D chess"."Don't get distracted by the Epstein shills," wrote one commenter professing his steadfast support for Trump on TheDonald, a popular message board filled with news, conspiracy theories and language ranging from salty to extremely offensive. "I have not once called for the Epstein files to be released because I'm not a complete and total [fool]," the commenter that sentiment is far from universal."Epstein transparency NOW!!!" came one user criticised the president over his recent statements that lambasted supporters for focusing on the Epstein issue: "Don't [lash] out at your own base… That makes you look guilty." What do we know about the Epstein files?Maxwell interview about Epstein 'very productive', lawyer says As the saga rumbles on - fuelled by reports giving further details of Trump's relationship with Epstein, and justice department meetings with Epstein's partner in crime Ghislaine Maxwell - pro-Trump online spaces heavily invested in conspiratorial thinking are divided in much the same way as more mainstream was friends with Epstein in the 1990s and early 2000s, but has not been accused of any wrongdoing as part of the investigations into his former friend. According to Trump, the pair fell out in the early 2000s, two years before Epstein was first arrested. The White House has recently suggested that their fallout was connected to Epstein's behaviour, and that "the president kicked him out of his club for being a creep".Although the contents of any unreleased documents remain unknown, the existing materials in the public domain mention a number of high-profile figures who were connected to Epstein - though that does not imply any illegal president previously said he would be open to making public more information on Epstein. But he changed his position earlier this month, saying the case was frustration over what many Americans see as a simple request is now being given voice by some prominent allies of the president."Look, I'm where I've been every time y'all ask me this question," said Thom Tillis, a US senator in Trump's Republican Party who has sometimes tangled with Trump. "Release the damn files." A US justice department official spoke to Maxwell in prison on Thursday, although few details emerged about what she was questioned about and how she Trump's biggest supporters are sticking by the president, many are trying to square their backing for his Make America Great Again (Maga) movement with what they apparently see as his stonewalling of further information influencers have found themselves on the defensive as they try to stand by their man after years of demanding Epstein transparency – a call that was endorsed by Trump during last year's presidential campaign, and vociferously pushed for years by several top administration officials including FBI director Kash Loomer, a far-right conspiracy theorist with a huge social media following, who is an informal yet influential White House adviser, posted a link to a news article in which she said "Trump is not implicated" in the Epstein with messages of support, blowback on X came fast:"How would you know.""He literally partied with Epstein."Dozens of other users responded with memes and historical pictures of Trump and Epstein together, before they fell messages like "We want to see the Epstein files!" – which one follower posted at conservative podcaster Charlie Kirk – seem about as common online at the moment as the most popular slogan used by case obsessives: "Epstein didn't kill himself."The phrase is a reference to one of the most common conspiracy theories, that Epstein was killed by an unknown assailant and did not take his own life, as the official narrative states, when he died in prison in justice department and FBI rejected that theory in a memo earlier this month. They also said they had no rumoured Epstein "client list" that could implicate high-profile associates besides Maxwell in Epstein's criminal was that memo that kicked off the renewed focus on Epstein that has recently dominated the US news cycle. After initially questioning government officials, and demanding more document releases, many popular Maga influencers – including Loomer, Jack Posobiec, and pro-Trump Substack blogs and sites like ZeroHedge – appear in recent days to be backing off the topic and trying to turn the attention of their audiences others - including former Fox News host Tucker Carlson, Steve Bannon and podcaster Benny Johnson - have continued to cover the saga in episode has driven even some of Trump's most steadfast supporters to turn on the this week Jacob Chansley - the so-called QAnon Shaman who was sentenced for rioting at the US Capitol in January 2021 wearing horns, fur and face paint - posted a string of expletive-laden messages directed at Trump on X. His account was deleted shortly thereafter. However, the administration's efforts to highlight other stories do seem to have worked to diffuse the energy in some of the most conspiratorial pro-Trump TheDonald, the latest twists in the Epstein case are only one discussion of are also talking about topics like vaccines, the cancellation of Stephen Colbert's late-night show, and documents recently declassified by Director of National Intelligence Tulsi Gabbard regarding Russian interference in the 2016 declassified documents, although confirming the prevailing view that Russia tried to influence the race, led Trump allies to call for the arrest of former President Barack Obama after Trump accused his predecessor of trying to falsely tie him to labelled Trump's comments a "ridiculous and a weak attempt at distraction", and was joined by other Democrats who called Gabbard's move a blatant attempt to change the with the once-promised release of Epstein files, Gabbard may have set up even bigger expectations among the Maga faithful for a reckoning. Accuser says Epstein files 'rollercoaster' weighs on victims Those still chatting about the Epstein case find themselves in discussion threads trying to work out what they speculate could be hidden meanings behind Trump's actions, and asking questions such as why the Democratic administration of Joe Biden didn't release Epstein case documents - if indeed they contain any material that could damage Trump's of the president's supporters are caught between their desire for more information and possibility of damaging their movement if the story rumbles on."For 10 years the leftists have been looking for something, anything, to drive as a wedge between Trump and MAGA," wrote one TheDonald contributor. "This has been their most successful attempt yet."Someone else shot back: "Trump made the wedge himself by running his mouth."