Lee, Trump Agree on Swift Tariff Deal
(MENAFN) On Friday, South Korean Leader Lee Jae-myung and United States Leader Donald Trump held their first phone conversation since Lee's election, where they both expressed intentions to expedite a tariff agreement.
The discussion, which lasted for 20 minutes, saw Trump congratulating Lee on his victory. In response, Lee highlighted the continued importance of the South Korea-US alliance, emphasizing its central role in Seoul's foreign policy strategy.
The two leaders mutually agreed to work toward quickly finalizing a "mutually satisfactory agreement" concerning tariff negotiations.
According to Lee’s office, they also agreed to encourage practical results in ongoing working-level discussions to achieve this goal.
Lee, a liberal politician, emerged victorious in the presidential election on June 3, following the impeachment and removal of former conservative leader Yoon Suk Yeol, who had been ousted for his attempt to declare martial law in December.
In response to trade tensions, the US had imposed a 25 percent tariff on South Korea in April as part of Trump’s "reciprocal" global tariffs. This was temporarily reduced to 10 percent for a 90-day period, set to expire on July 8.
During the call, Trump extended an invitation for Lee to visit the US. Both leaders expressed interest in holding an in-person meeting as soon as possible.
The G7 summit in Canada, scheduled for June 15-17, and the NATO summit in the Netherlands on June 24-25, are being considered as potential venues for their first face-to-face discussions.
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