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South Korean industry minister, US commerce secretary hold talks as tariff deadline nears

( July 25, 2025, 01:56 GMT | Official Statement) -- MLex Summary: South Korea’s Ministry of Trade, Industry and Energy and the US Department of Commerce reaffirmed their commitment to reaching a mutually beneficial tariff agreement before Aug. 1 and agreed to resume talks in the coming days. In Washington yesterday, Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo met with US Commerce Secretary Howard Lutnick to discuss a potential resolution to the tariff issue, alongside ways to deepen cooperation in key manufacturing sectors. The ministry said Kim highlighted the need for tariff relief on items such as automobiles, citing joint interests in shipbuilding, semiconductors and batteries, and stressed that South Korean firms must not be placed at a disadvantage compared to competitors. The meeting came amid heightened uncertainty after a planned “2+2” trade dialogue between the two countries was abruptly canceled, fueling concerns that a deal may be difficult to reach ahead of the deadline.The statement, in Korean, is attached....

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