Trump opens talks with South Korea on tariffs: ‘Things are looking good’

Under the president’s tariff plan unveiled last week, imports from South Korea into the U.S. will be hit with a 25% tax beginning Wednesday. The plan’s rollout began Saturday with blanket 10% tariffs, while higher rates for certain countries, including South Korea, begin in less than 15 hours.

Trump posted on Truth Social Tuesday morning he had a “great” call with the South Korean leader and that they have “the confines and probability of a great DEAL for both countries.”

“I just had a great call with the Acting President of South Korea. We talked about their tremendous and unsustainable Surplus, Tariffs, Shipbuilding, large scale purchase of U.S. LNG, their joint venture in an Alaska Pipeline, and payment for the big time Military Protection we provide to South Korea. They began these Military payments during my first term, Billions of Dollars, but Sleepy Joe Biden, for reasons unknown, terminated the deal. That was a shocker to all! In any event, we have the confines and probability of a great DEAL for both countries,” Trump said.

He also added that South Korea was sending a negotiating team to Washington, D.C., to discuss trade and various other policy items. Trump also took a swipe at China, which has vowed retaliation against Trump’s tariffs, and said he is “waiting for their call.”

“Their top TEAM is on a plane heading to the U.S., and things are looking good. We are likewise dealing with many other countries, all of whom want to make a deal with the United States. Like with South Korea, we are bringing up other subjects that are not covered by Trade and Tariffs, and getting them negotiated also. ‘ONE STOP SHOPPING’ is a beautiful and efficient process!!! China also wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call. It will happen! GOD BLESS THE USA,” Trump added.

TRUMP TASKS BESSENT WITH NEGOTIATING ‘GOLDEN AGE’ OF TRADE WITH JAPAN

South Korean Trade Minister Cheong In-kyo is making his way to the U.S. to negotiate with Trump administration officials. Ahead of his departure, Cheong said they were exploring options for resolving the U.S. officials’ trade deficit concerns.

“It is difficult to reduce exports, so shouldn’t we then increase [U.S.] imports? In that regard, we have been reviewing many different packages of measures to resolve the trade balance problem,” Cheong said, according to Reuters.