S. Korea says worst-case tariffs averted, eyes talks with U.S.

Following U.S. President Donald Trump's announcement regarding his new tariffs timeline, South Korea's Presidential Office convened a response meeting on Tuesday.

Our top office correspondent Song Yoo-jin reports.

Regarding U.S. President Donald Trump's decision to impose 25-percent tariffs on South Korean imports from August 1st, the Presidential Office says it sees value in having earned more time.

"Given how little time there has been after the new administration was launched, we see it as having avoided the worst-case scenario of tariffs going up. We've now secured extra time for negotiations, and National Security Adviser Wi Sung-lac is continuing high-level talks in the U.S."

In response, Presidential Chief of Policy Kim Yong-beom convened a meeting on Tuesday with the ministries of Industry, Finance, and Foreign Affairs.

Kim stressed that although swift negotiations are important, safeguarding South Korea's national interests remains the top priority and urged the ministries to approach tariff talks with that in mind.

He noted that market reactions so far have been relatively calm, but called for close monitoring and support measures for sectors likely to be affected, including carmakers and steel producers.

Kim added that once National Security Adviser Wi Sung-lac returns from the U.S., they will hold a joint meeting to discuss the next steps.

Wi, who is on a three-day visit to Washington, D.C., met with his American counterpart, Marco Rubio, on Monday local time.

There, the South Korean delegation reiterated the need to arrange a summit between Presidents Lee and Trump as soon as possible to make progress on key issues, to which the U.S. side agreed.

On tariffs, Washington expressed hopes for close coordination to reach a deal before they kick in.

On the same day, Seoul's top trade negotiator, Yeo Han-koo, also in Washington, met with Commerce Secretary Howard Lutnick.

Yeo called for lowering tariffs on major Korean exports, mainly automobiles and steel, which are currently subject to separate 25-percent and 50-percent duties.

He also emphasized Seoul's commitment to bilateral cooperation on manufacturing, describing it as a way to achieve more balanced trade.

Yeo and Lutnick are scheduled to continue their talks on Wednesday.

"Wi's visit to Washington is set to conclude on Tuesday. More details of his trip are expected once he returns to Seoul.

Song Yoo-jin, Arirang News."