South Korea’s newly elected President Lee Jae-myung and United States President Donald Trump have agreed to work toward a quick and mutually beneficial resolution on tariffs, marking their first direct communication since Lee’s electoral victory earlier this week.
According to the South Korean presidential office, the two leaders held a 20-minute phone conversation on Friday, during which they affirmed the strength of the South Korea-US alliance and emphasized the importance of cooperation on trade issues. The call, as reported by Yonhap news agency, was described as cordial and constructive.
President Trump congratulated Lee on his recent election win, expressing readiness to strengthen bilateral ties. Lee responded by reaffirming the alliance as the cornerstone of Seoul’s foreign policy. “The two leaders agreed to work toward swiftly reaching a mutually satisfactory agreement on tariff negotiations,” the presidential office said in a formal statement.
They also agreed to encourage “a tangible outcome in working-level talks,” underlining the urgency of finding a solution before the current temporary tariff relief expires.
The US had imposed a 25% duty on South Korean imports in April, part of Trump’s broader “reciprocal tariff” policy aimed at balancing trade terms globally. However, the duty was lowered to a 10% rate for a 90-day period set to expire on July 8. The agreement between Lee and Trump now raises hopes of avoiding a return to the harsher tariff rate.
Lee’s administration faces a critical task in stabilizing economic relations with the US. His election on June 3 followed a political shakeup in South Korea, after the impeachment and removal of former President Yoon Suk Yeol, who was accused of attempting to declare martial law late last year.
During their conversation, President Trump extended a formal invitation for Lee to visit Washington. Both leaders agreed to hold a face-to-face meeting as soon as schedules permit. “President Trump invited President Lee to the United States, and both sides agreed to arrange a meeting at the earliest possible date,” a South Korean official confirmed.
Possible venues for the bilateral meeting include the G7 summit in Canada, scheduled for June 15-17, and the NATO summit in the Netherlands, set for June 24-25. While South Korea is not a NATO member, its participation in summit side events and outreach meetings has increased in recent years.
As global economic conditions remain volatile, both Washington and Seoul are under pressure to ensure that trade policies do not further destabilize markets. Analysts say the prompt communication between the two presidents sends a positive signal to investors and diplomatic observers.
“Today’s conversation was a strong message of continuity and cooperation,” said a South Korean diplomatic source familiar with the talks. “The leaders understand what’s at stake and are moving quickly to prevent any escalation.”
The world will be watching the next steps closely, as working-level trade teams from both countries prepare to meet ahead of the July 8 deadline.
