President Lee Jae Myung presides over a meeting with senior aides and secretaries at the presidential office in Seoul on July 31, 2025. (Image courtesy of Yonhap)
SEOUL, July 31 (Korea Bizwire) — President Lee Jae Myung urged the government Thursday to closely monitor public concerns over the trade deal with the United States and prepare follow-up measures to protect the nation’s core interests.
Lee made the call after Seoul clinched a trade deal with Washington to lower the reciprocal and auto-specific tariffs from the initial 25 percent to 15 percent in exchange for the $350 billion investment pledge and $100 billion U.S. energy purchases.
“It is expected to further bolster South Korea-U.S. economic cooperation and the alliance,” Lee said during a meeting with senior aides and secretaries. “Although we have overcome a big mountain, the reorganization of the global trade order is expected to accelerate.”
With the deal concluded, Lee urged the government to address structural challenges facing the domestic economy by implementing measures to boost consumption and diversify export markets.
“I want relevant ministries to closely monitor public concerns and thoroughly prepare follow-up measures to safeguard our core national interests,” he said.
South Korea avoided additional U.S. market access demands in such sensitive sectors as beef and rice, Seoul officials said, but the new tariffs, set to take effect Friday, have raised concerns over the export-reliant economy amid sagging domestic demand.
(Yonhap)
