South Korea Sends Top Envoy To Washington Again To Avert 25% Trump Tariffs Before August Deadline

South Korea's top security advisor has departed for the U.S. to participate in another round of trade talks, as the Aug. 1 tariff deadline set by U.S. President Donald Trump draws closer, according to a Bloomberg report.

This will be Wi Sung-lac's second trip in two weeks. South Korea, home to top firms like Samsung (SSNLF) and Hyundai (HYMTF), faces a 25% tariff rate on imports to the U.S., up from the current 10%, in addition to sector-specific duties targeting cars, steel, and aluminum.

Wi will "engage in various negotiations with American officials," Woo Sang-ho, a senior presidential secretary, told reporters Sunday, adding that more visits might follow if they are necessary, according to the report.

The country is expediting negotiations after delays caused by a political gridlock in Seoul.

President Lee Jae Myung's newly appointed ministers for foreign affairs, finance, and industry assumed office on Monday, following uncommon bipartisan backing. The opposition People Power Party supported the appointments, citing the urgency of U.S. tariff negotiations, which they said were too critical to the economy to postpone any further.

According to local media reports, Wi's goal is to lower the tariffs by a certain percentage point, and the newly appointed Foreign Minister Cho Hyun and Finance Minister Koo Yun-cheol are also arranging a visit to the U.S.

It is unclear who Wi is meeting from the U.S. side.

Securing a favourable tariff deal is key for South Korea, which faces economic challenges. The economy contracted in the first quarter, and the central bank has cut interest rates to 2.5% while slashing its growth forecast to 0.8%. Meanwhile, the Lee administration has unveiled a $23.3 billion supplementary budget aimed at stimulating growth and mitigating trade-related risks.

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