The US and J. Korea progress as per appointment to remove customs duties

South Korea and the United States are working on a package of an agreement that will remove US and reciprocal customs before entering into force in July, the South Korean delegation said after the first round of trade negotiations in Washington.

The US and South Korea had a « very successful » meeting on Thursday, US Finance Minister Scott Beasent said after that meeting.

« We seem to move faster than I thought, and we will talk about technical conditions next week, » he told reporters.

The Bessent and the US Trade representative Jamieson Greer met with the South Korean Ministers of Finance and Industry.

Neither side revealed details about possible areas of the negotiations, but South Korea announced that it had asked for an exemption from reciprocal and US customs duties to specific products. She offered cooperation in shipbuilding and energy and talks about trade imbalances.

The Ahn Duk-geun minister of the industry Korean said that the goal was to reach agreements until July 8, the day the delay of the introduction of customs duties expired, which US President Donald Trump introduced almost all over the world.

The Republican has announced a 25 percent reciprocal customs custom duty to Seul, and South Korea is one of the first countries with which the US government began trade negotiations.