Win-Win or Bust: South Korea’s Strategy in U.S. Tariff Negotiations

Foreign Minister Cho Hyun vowed Monday to work towards a win-win deal in ongoing tariff negotiations with the United States, as he assumed office less than two weeks before steep U.S. duties are set to take effect.

Addressing reporters prior to his inauguration ceremony, Cho emphasized that negotiations with the U.S. should not be viewed as a zero-sum game. Instead, he advocated for a broader perspective to further strengthen the bilateral alliance.

“We should strive for a win-win solution,” Cho told reporters upon arriving at the ministry. “Our ministry needs to take a more macro-level approach in shaping the future of our alliance with the U.S. We must thoroughly examine all aspects of comprehensive packages.”

“While tariff negotiations are often perceived as a zero-sum game, my past experience shows that non-zero-sum outcomes are always possible. I believe our ministry is well-positioned to help achieve such results,” he added.

Reciprocal tariffs, including 25 percent duties on South Korea, are scheduled to take effect on Aug. 1, unless the two sides reach an agreement beforehand.

South Korea is working to strike a deal with the Trump administration, hoping to secure exemptions or relief from both reciprocal tariffs and sectoral tariffs on steel, aluminum, and automobiles.

South Korea’s National Security Adviser Wi Sung-lac is currently in Washington for tariff talks with U.S. officials, marking his second trip to the U.S. this month alone.

Newly appointed finance and industry ministers, along with Foreign Minister Cho, are reportedly planning visits to the U.S.

Cho stated that the date of his U.S. visit has not yet been determined.

When asked about his approach to addressing contentious historical issues with Japan, Cho said that merely holding out hopes or pressuring Tokyo would not improve the situation.

“We need to approach this with perseverance and patience,” he said. “It’s crucial to ensure that these issues do not become obstacles in our efforts to develop bilateral relations into a future-oriented partnership.”