South Korea and the United States agreed to craft a trade package aimed at removing new U.S. tariffs before the pause on reciprocal tariffs is lifted in July, Seoul's delegation in Washington said after a first round of trade talks.

U.S. Treasury Secretary Scott Bessent was encouraged by "productive" early trade talks with Japan and South Korea this week, the Treasury said in a statement on Friday. In a readout issued a day after the bilateral meeting in Washington with Japanese Finance Minister Katsunobu Kato,

South Korea is relying on cooperation with the White House to reach an agreement on tariffs. The fourth-largest economy in Asia aims to reach an agreement with Donald Trump by 8th July, according to CNBC.