South Korea’s leading presidential candidate wants more time on US tariff deal
The post South Korea’s leading presidential candidate wants more time on US tariff deal appeared on BitcoinEthereumNews.com. South Korea’s top presidential hopeful, Lee Jae-myung, said on Sunday that the deadline for reaching a trade agreement with the United States over Donald Trump’s tariffs needs to be pushed back. According to comments made during a press conference covered by multiple South Korean news outlets, Lee called the July 8 target unrealistic and said it failed to account for the political transition currently underway in Seoul. The deal, which involves tariff negotiations and broader economic cooperation between the two countries, was originally set in motion in Trump’s second term as president. The trade minister of South Korea had already warned that delays were likely because of the election. Lee doubled down, saying the current timeline seemed to only reflect Washington’s interests. “There is not much time,” Lee said. “Isn’t diplomacy something that benefits both sides? If one country benefits and the other country suffers unilaterally, that is not diplomacy. It is called plunder.” He said South Korea should not be forced to meet a deadline that wasn’t mutually agreed upon, and added that both countries needed to act like equal partners. Lee vows economic task force, criticizes ex-president’s approach Lee, who is running under the Democratic Party of Korea, also talked about the country’s economic slowdown and said he would immediately assemble a team to respond. He said South Korea must roll out an extra budget as soon as possible to help jumpstart the economy. “I will swiftly prepare immediately actionable economic measures and actively respond to the domestic economic slowdown with the determination to fight the recession,” he told reporters. The presidential election, scheduled for June 3, was triggered by the impeachment and removal of former president Yoon Suk Yeol, who declared martial law in December during a period of civil unrest. The move led to widespread backlash…
The post South Korea’s leading presidential candidate wants more time on US tariff deal appeared on BitcoinEthereumNews.com.
South Korea’s top presidential hopeful, Lee Jae-myung, said on Sunday that the deadline for reaching a trade agreement with the United States over Donald Trump’s tariffs needs to be pushed back. According to comments made during a press conference covered by multiple South Korean news outlets, Lee called the July 8 target unrealistic and said it failed to account for the political transition currently underway in Seoul. The deal, which involves tariff negotiations and broader economic cooperation between the two countries, was originally set in motion in Trump’s second term as president. The trade minister of South Korea had already warned that delays were likely because of the election. Lee doubled down, saying the current timeline seemed to only reflect Washington’s interests. “There is not much time,” Lee said. “Isn’t diplomacy something that benefits both sides? If one country benefits and the other country suffers unilaterally, that is not diplomacy. It is called plunder.” He said South Korea should not be forced to meet a deadline that wasn’t mutually agreed upon, and added that both countries needed to act like equal partners. Lee vows economic task force, criticizes ex-president’s approach Lee, who is running under the Democratic Party of Korea, also talked about the country’s economic slowdown and said he would immediately assemble a team to respond. He said South Korea must roll out an extra budget as soon as possible to help jumpstart the economy. “I will swiftly prepare immediately actionable economic measures and actively respond to the domestic economic slowdown with the determination to fight the recession,” he told reporters. The presidential election, scheduled for June 3, was triggered by the impeachment and removal of former president Yoon Suk Yeol, who declared martial law in December during a period of civil unrest. The move led to widespread backlash…
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