Tariff Talks Face July 8 Deadline Uncertainty—What’s President Lee’s Strategy?

- President Lee Jae-myung cites challenges in U.S.–Korea tariff negotiations during his 30-day press conference. - Mutual demands remain unclear, making it hard to reach agreement. According to Hankyoreh on July 3, South Korean President Lee Jae-myung acknowledged difficulties in ongoing tariff negotiations with the U.S., stating at a press conference marking his first 30 days in office that “we cannot be certain the talks will conclude by the July 8 deadline.” President Lee emphasized the complexity of the negotiations, noting that “the goal is to produce an outcome that benefits both countries by reflecting each other’s demands.” However, he admitted that “both sides’ demands are still not clearly defined,” adding to the challenges. The mutual tariff discussions are seen as a crucial opportunity to redefine bilateral economic relations. Yet, with talks at a standstill, experts say resolution may take longer than expected due to clashing industrial protection interests and economic priorities on both sides. Still, President Lee stated the negotiations are “still in the early stages” and expressed his determination to strive for a positive result. Whether the talks will conclude successfully or require an extension remains a key point of interest.