South Korean Official: Trade Framework Agreement with U.S. Possible Before August

South Korea's top trade envoy said on Monday that it is possible to reach an "in principle" trade agreement with the United States before the August 1 deadline, and hinted that South Korea may be open to expanding agricultural market access. Yeo Han-koo, Minister for Trade of the Ministry of Trade, Industry and Energy of South Korea, said that South Korea is seeking to avoid "unfair" tariffs imposed by the United States on key areas of its industry, which would undermine industrial cooperation with its main security ally and trading partner. "I believe it is possible to reach an agreement in principle in the U.S. tariff negotiations, and then take some time to negotiate further," Yeo Han-koo said. "20 days is not enough to develop a perfect treaty containing all the details." "We need to make strategic judgments on agriculture and animal husbandry," Yeo Han-koo said, adding that "sensitive" areas may need to continue to be protected, but some aspects may be seen as part of the overall framework. [Golden Ten]