South Korea’s final push in Washington seals $350bn trade investment pact

Mace | 31st July 2025 | International, Washington
Old fortress gate with light trails at downtown

South Korea secures $350bn US deal, cutting tariffs and pledging major investment and energy purchases.

South Korean government ministers and business leaders converged on Washington this week to press ahead with a high stakes trade negotiation under intense time pressure as the threat of escalating US reciprocal tariffs looms on August 1 2025  South Korea’s Industry Minister Kim Jung-kwan Finance Minister Koo Yun-cheol and Trade Minister Yeo Han-koo held several hours of discussions with US Commerce Secretary Howard Lutnick in a final push to secure a deal that reduces US tariffs from the initially proposed 25 per cent to 15 per cent.  Senior executives from South Korean industrial heavyweights including Hyundai Kia Samsung and Hanwha also arrived in Washington to support the delegation as lobbyists in pursuit of clarity on trade terms affecting chip car shipbuilding and battery sectors.  Commerce Secretary Lutnick made clear through prior comments that he expected South Korea to bring its best and final offer to the table indicating urgency in sealing terms before the deadline.  The re...

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