President Lee Jae-myung holds the receiver to make a phone call with U.S. President Donald Trump at his official residence in Hannam-dong, Seoul, on June 6th. /Courtesy of Yonhap News

On the 7th (local time), U.S. President Donald Trump公布了一封信,宣布将于8月1日起对韩国征收25%的 reciprocal tariff. While South Korea and the U.S. are negotiating tariffs, they have secured an additional three weeks for negotiation, extending the initial tariff imposition date of July 9 to the 1st of next month.

Yeo Han-koo, head of the Ministry of Trade, Industry and Energy's trade negotiations headquarters, is staying in Washington, D.C., continuing tariff discussions, and it is expected that a final agreement will be reached during the Korea-U.S. summit anticipated to be held before August 1.

◇ Trump reveals summit letter... Korea-U.S. 'summit negotiation' inevitable

While in the U.S., National Security Office Director Wi Seong-rak held discussions with U.S. Secretary of State and National Security Advisor Marco Rubio in Washington, D.C. The main agenda was the Korea-U.S. summit.

According to the presidential office on the 8th, Director Wi noted in the discussions with Minister Rubio, "I hope we can advance mutual benefits on all issues through the timely holding of a Korea-U.S. summit." In response, Minister Rubio expressed agreement, saying, "The tariff letters to major nations, including Korea, were sent today, but with time until the actual imposition date of August 1, I hope both countries will communicate closely to reach an agreement before then," the presidential office reported.

Comprehensive statements from both sides suggest an increasing likelihood of a Korea-U.S. summit being held before the reciprocal tariff imposition date of August 1. The top-down negotiation format, where political decisions need to be made, is a preferred method of negotiation for President Trump. There is a prevailing sentiment within the presidential office and beyond that a summit may take place at the end of July.

Among the challenges that the U.S. Trade Representative (USTR) has identified as non-tariff barriers from Korea are issues related to import quarantine of agricultural products, network usage fees, and restrictions on the provision of mapping data abroad, which are difficult to reconcile domestically. Each government department has differing positions, and national opinion may divide based on vested interests. Ultimately, it is a situation that can only be resolved directly by President Lee Jae-myung as the head of state.

A high-ranking official from the government remarked, "Many of the issues in trade discussions are sensitive domestically," adding, "The president will need to take the lead, make a political decision, and persuade the public."

The presidential office is also viewing the summit negotiation as a key card. Spokesperson Kang Yu-jung stated during a briefing that "we will swiftly resolve the uncertainties caused by tariffs" and added, "We will strive to address this issue in a way that benefits national interests through various diplomatic channels, including the summit."

◇ Government 'national interest over speed'... Trade chief remains in the U.S. for high-level contacts

While President Trump has intensified pressure to speed up tariff negotiations by making the summit letter public on social media, the Lee Jae-myung government is responding with the principle that 'content comes before speed.'

Policy chief Kim Yong-beom stated at the 'Countermeasures meeting regarding U.S. trade issues,' chaired in the afternoon, "While timely negotiations are important, upholding national interests is an even more important value," and urged, "As we have secured time until the end of July, please focus on negotiations with the U.S. prioritizing national interests."

Internally, there are evaluations regarding the letter revealed by President Trump that it is 'not a bad omen.' An official from the Ministry of Trade said, "Although we have engaged fiercely in negotiations with the principle of prioritizing national interests since the new government took office in a short time, it is true that there was insufficient time to reach agreements on all issues in reality," and added, "We view this letter as effectively extending the reciprocal tariff imposition until August 1." This was a positive assessment of securing an additional three weeks for negotiations.

On the same day in Washington, D.C., in addition to the Korea-U.S. security chief talks, a meeting was also held between head Yeo Han-koo and U.S. Secretary of Commerce Howard Lutnick. During the meeting, Director Yeo reaffirmed the willingness for Korea-U.S. manufacturing cooperation and requested friendly treatment regarding tariffs on items such as automobiles and steel, the Ministry of Trade reported.

Director Yeo, who departed on the night of the 4th, is reportedly planning to stay in the U.S. for a few more days to continue trade discussions and engage with high-level and congressional officials.