South Korea's Industry Minister Kim Jung-kwan held a second day of tariff talks with U.S. Commerce Secretary Howard Lutnick in Washington on January 30, 2026, but again failed to reach an agreement. Following Friday's initial meeting—which also ended without a deal—the discussions deepened mutual understanding, though Kim said more talks are needed.
The second round of talks at the U.S. Commerce Department came after President Donald Trump's threat to raise tariffs on South Korean autos, lumber, and other goods from 15% to 25%, due to delays in Seoul ratifying a July 2025 bilateral trade deal. Under that agreement, South Korea pledged $350 billion in U.S. investments in exchange for tariff reductions.
Minister Kim told reporters after the meeting: "Our understanding of each other's positions has deepened. There were discussions on how to find a middle ground." He added, "We need more talks. We have not yet reached a conclusion." On potential tariff hikes, Kim said, "Negotiations are ongoing," without further details.
Kim plans to continue discussions via video link after returning home and will meet other Trump administration officials, including Energy Secretary Chris Wright. These negotiations aim to resolve trade tensions and affirm Seoul's investment commitments, potentially impacting bilateral economic ties.
