Lee and Trump Talk Tariffs: Working Towards a Deal

Advanced | June 12, 2025

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South Korea US Tariff Deal: New Leadership, Familiar Trade Hurdles

The First Call Between Leaders

Well, hello there! Let’s dive into some recent international news that’s been making headlines. Just last week, South Korea’s new President, Lee Jae-myung, had his first phone chat with US President Donald Trump. This call happened pretty quickly after President Lee was elected on June 3rd, following a change in leadership in Seoul. The big topic on the agenda? The South Korea US tariff deal!

Productive 20-Minute Discussion

Apparently, the two leaders had a productive 20-minute conversation. According to President Lee’s office, they both agreed that they need to work towards a “swift” and “mutually satisfactory agreement” when it comes to tariff negotiations.

The Push for a “Tangible Outcome”

Why the Urgency?

So, why the urgency? Back in April, the US put a 25% “reciprocal” duty on goods coming from South Korea as part of a broader tariff policy. This was later temporarily lowered to 10%, but that reduction is set to end on July 8th. If a new deal isn’t reached by then, the tariff could jump back up to 25%, which would be a significant hit to South Korea’s economy, which relies heavily on exports.

Steps Toward Progress

The good news is that both presidents want to see real progress. They agreed to encourage their teams to hold working-level talks aimed at achieving a “tangible outcome” on these tariff issues. This suggests they’re serious about finding a resolution before the deadline.

Planning for In-Person Meetings

Looking ahead, President Trump also invited President Lee to visit the US, and they talked about meeting in person as soon as possible. Events like the upcoming G7 summit in Canada or the NATO summit in the Netherlands are being considered as potential spots for their first face-to-face meeting.

Broader Trade Discussions

Beyond tariffs, the US has also been pushing South Korea on other trade-related matters, like currency practices and contributions to the cost of US troops stationed there. It seems these tariff talks are just one piece of a larger, ongoing economic dialogue between the two countries.

The Path Forward

All in all, it’s clear that both Seoul and Washington see the importance of sorting out these trade differences. Keeping the lines of communication open and pushing for concrete results in the working-level talks will be key in the coming weeks. The clock is ticking towards that July 8th deadline!

Vocabulary

Tariff (noun): A tax or duty to be paid on a particular class of imports or exports.
- Example: “The government imposed a new ‘tariff’ on imported cars.”
Negotiation (noun): Discussion aimed at reaching an agreement.
- Example: “The trade ‘negotiations’ between the two countries were complex.”
Mutually satisfactory (adjective): Giving satisfaction to all parties involved.
- Example: “They hoped to find a ‘mutually satisfactory’ solution to the problem.”
Reciprocal (adjective): Given, felt, or done in return.
- Example: “The trade agreement included ‘reciprocal’ benefits for both nations.”
Duty (noun): A payment due to the government, especially on imports.
- Example: “They had to pay a heavy ‘duty’ on the electronics they imported.”
Deadline (noun): A stated time by which something must be completed.
- Example: “The ‘deadline’ for submitting the proposal is Friday.”
Working-level talks (noun phrase): Discussions held between officials who are not the main leaders or ministers, focused on detailed issues.
- Example: “‘Working-level talks’ are crucial for ironing out the specifics of any deal.”
Tangible outcome (noun phrase): A result that is clear enough or definite enough to be seen or measured.
- Example: “We are hoping for a ‘tangible outcome’ from these discussions.”
Impeached (verb): Charged with misconduct while in office.
- Example: “The former president was ‘impeached’ by the legislature.”
Alliance (noun): A union or association formed for mutual benefit, especially between countries.
- Example: “The long-standing ‘alliance’ between the two nations is very important.”

Discussion Questions (About the Article)

What was the main topic of conversation between President Lee and President Trump?
Why is there a sense of urgency regarding the tariff negotiations?
What does it mean for working-level talks to aim for a “tangible outcome”?
Where might President Lee and President Trump have their first in-person meeting?
Besides tariffs, what other trade-related issues have been mentioned between the US and South Korea?

Discussion Questions (About the Topic)

How do tariffs impact international trade and economies?
What are some potential benefits and drawbacks of reciprocal tariffs?
How important are strong alliances between countries, especially in terms of trade?
What factors do you think are most important for countries to consider when negotiating trade deals?
How might changes in political leadership affect ongoing international negotiations?

Related Idiom

Against the clock

Meaning: Rushing to do something before a particular time.
Example: They are working “against the clock” to reach a South Korea US tariff deal before the deadline.

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This article was inspired by: Reuters, June 7, 2025