US and South Korea need more discussion on trade deal, Seoul says

South Korea needs more discussion with the U.S. on a trade deal ‌they reached last year, the industry minister said after two days of talks through Friday with ⁠his counterpart, following U.S. President Donald Trump's announcement to raise tariffs. "It was an opportunity to improve each other's understanding on a U.S. intent ​to raise tariffs and seek a compromise, but we still need ‍more discussion with the U.S. side," Minister Kim Jung-kwan was quoted as saying in a statement released by the ministry on Saturday.

Kim said that the ⁠government ‌would communicate with parliament ⁠for a bill on U.S. investment to be enacted swiftly during his ‍meetings with the U.S. Commerce Secretary in Washington, as he emphasised Seoul's ​stance that the trade deal would be implemented smoothly, according to ⁠the statement. Kim and Lutnick also agreed that invest projects should be mutually beneficial, ⁠the ministry said.

Trump said on Tuesday that the U.S. and South Korea would work out a solution, after he threatened ⁠a day earlier to hike tariffs on imports from the Asian ⁠ally, complaining ‌that Seoul had not lived up to its part in the trade deal, which caught South Korean officials ⁠by surprise.