South Korean President Lee Jae-myung delivers a speech during a news conference to mark his first 30 days in office at Yeongbingwan of Blue House in Seoul, South Korea, Thursday, July 3, 2025.Â
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, top right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, July 3, 2025.
People watch a TV screen showing the live broadcast of South Korean President Lee Jae Myung’s press conference at the Seoul Railway Station in Seoul, South Korea, Thursday, July 3, 2025.
South Korea’s leader says trade deal with US remains unclear ahead of Trump’s deadline
South Korean President Lee Jae Myung said the tariff negotiations with the U.S. have been “clearly not easy†and stressed that the countries must reach mutually beneficial outcomes.
South Korean President Lee Jae-myung delivers a speech during a news conference to mark his first 30 days in office at Yeongbingwan of Blue House in Seoul, South Korea, Thursday, July 3, 2025.Â
By Kim Tong-hyung And Hyung-jin Kim – The Associated Press
SEOUL, South Korea (AP) — South Korean President Lee Jae Myung said that it remained unclear whether Seoul and Washington could conclude their tariff negotiations by the deadline set by President Donald Trump for next week, noting Thursday that both nations were still working to clarify their positions and identify areas of agreement.
Speaking at his first news conference since taking office last month, Lee also reiterated his intentions to improve badly frayed ties with North Korea, though he acknowledged that mutual distrust between the Koreas is too deep to heal anytime soon.
Trump’s tariff hikes and other “America First†policies are for Lee’s month-old government, as are North Korea’s advancing nuclear program and domestic economic woes. Lee, a liberal, came to power after winning a snap presidential election caused by the ouster of conservative President Yoon Suk Yeol over his
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Lee calls tariff talks with US ‘clearly not easy’
Lee said the tariff negotiations with the U.S. have been “clearly not easy†and stressed that the countries must reach mutually beneficial outcomes.
“It’s difficult to say with certainty whether we will be able to reach a conclusion by July 8. We are now doing our best,†Lee said. â€What we need is a truly reciprocal outcome that benefits both sides and works for everyone, but so far, both sides are still trying to define exactly what they want.â€
Trump’s 90-day pause in global reciprocal tariffs is set to expire on July 9, potentially exposing South Korean products to 25% tax rates.
Washington has separately been seeking higher duties on specific products such as automobiles and semiconductors, which are key exports for South Korea’s . There are growing concerns in Seoul that Trump may also demand a broader deal requiring South Korea to pay significantly more for the 28,000 U.S. troops stationed in the country to deter North Korean threats.
Lee has consistently urged patience on tariffs, arguing that rushing to secure an early deal would not serve the national interest. His trade minister, Yeo Han-koo, was reportedly arranging a visit to Washington for possible meetings with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick.
Lee pushes to revive long-stalled talks with North Korea
On North Korea, Lee said he would seek to restore long-dormant talks with Pyongyang, whose expanding military cooperation with Russia pose major security concerns to their neighbors.
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“I think we should improve relations with North Korea based on a reliable coordination and consultation between South Korea and the U.S.,†Lee said. “But I expect that won’t be easy as mutual antagonism and distrust are too serious.â€
Lee previously faced criticism that he was tilting toward North Korea and China and away from the U.S. and But during his campaign, Lee promised to pursue pragmatic diplomacy, saying he would bolster the alliance with the U.S. while also seeking to repair ties with North Korea, China and Russia. Some critics say it’s too difficult to satisfy all parties.
Lee added that he had proposed resuming more frequent summits with Japan.
Lee’s government has made , halting frontline anti-Pyongyang propaganda broadcasts and taking steps to ban activists from flying balloons carrying propaganda leaflets across the border.
Trump has also expressed intent to resume diplomacy with North Korean leader Kim Jong Un. Lee has said he would support Trump’s push.
North Korea hasn’t publicly responded to the conciliatory gestures by Trump and Lee. But officials said North Korean propaganda broadcasts are no longer being heard in South Korean border towns.
North Korea has refused talks with the U.S. and South Korea since earlier . North Korea is now working to expand , supplying troops and weapons to support its war against Ukraine in return for economic and military assistance.
