The Tariff Deal: Reciprocity, Trade Balance, and Industry

On July 7, President Donald Trump extended the pause on 25 percent tariffs facing South Korea, which had been in effect since Liberation Day, until August 1. On April 2, the Trump administration announced universal tariffs of 10 percent and reciprocal tariffs based on bilateral trade balances against over sixty countries. The administration also introduced industry-specific tariffs on autos, steel, aluminum, and electronics. Soon after, reciprocal tariffs were paused to allow time for intensive bilateral negotiations with trading partners, including South Korea.

With the bilateral trade relationship being one of the most important for both the United States and South Korea, much uncertainty remains until a deal or a negotiated outcome is reached.

Please join KEI for a timely panel discussion immediately following the original deadline for tariff and trade negotiations on July 14. Participants include:

Wendy Cutler, Vice President and Managing Director of the DC Office, Asia Society Policy Institute

Tami Overby, Partner of Government Relations, DGA-Albright Stonebridge Group

Sarah Ahn, Economic Minister, Embassy of the Republic of Korea

KEI President & CEO Scott Snyder will moderate this hybrid event between 10:30 a.m. and 11:30 a.m. ET at KEI’s event space. Livestream available on KEI’s YouTube channel.