S.Korea Trade Minister: Possibility that the trade deal might come after 8 July deadline

South Korea’s Trade Minister Ahn Duk-geun said on Friday that “there is a possibility that the trade deal might come after the 8 July deadline.”

Additional comments

• Requested again for a waiver from US tariff measures at the APEC conference.
• South Korea’s delegation to visit the US next week for further tariff negotiations.
• Emphasised the importance of the auto and steel sectors during talks with US Trade Representative Jamieson Greer.
• Has set up formal negotiation framework with the US.
• Next ministerial-level meeting expected to be held in the middle of June.

Market reaction

Following these comments, the US Dollar Index (DXY) remains in the red near 100.70 while the USD/KRW holds the rebound near 1396.