South Korea’s Lee, Trump agree to work for swift tariff deal

ISTANBUL

South Korean President Lee Jae-myung and US President Donald Trump on Friday agreed to work towards a swift tariff deal in their first phone conversation since Lee was elected this week, his office said, according to Yonhap news agency.

During the 20-minute call, Trump congratulated Lee on his election victory. Lee, in turn, emphasized that the South Korea-US alliance remains the cornerstone of Seoul’s foreign policy.

“The two leaders agreed to work toward swiftly reaching a mutually satisfactory agreement” on tariff negotiations, the presidential office said, adding: “To that end, they agreed to encourage a tangible outcome in working-level talks.”

Lee, a liberal, was elected on June 3 after former conservative leader Yoon Suk Yeol was impeached and ousted for attempting to declare martial law in December.

The US imposed a 25% duty on South Korea in April as part of Trump’s “reciprocal” global tariffs, which was temporarily reduced to a baseline of 10% for 90 days until July 8.

Trump extended an invitation for Lee to visit the US, and the two leaders agreed to hold a meeting at the earliest possible opportunity.

The upcoming G7 summit, scheduled for June 15-17 in Canada, and the NATO summit set for June 24-25 in the Netherlands, are being considered as possible venues for their first in-person meeting.