U.S.-South Korea tariff negotiations hit a deadlock, with the U.S. demanding South Korea significantly increase its investments.

Lutnik's Lion's Mouth! The US-South Korea Tariff Negotiations Hit a Dead End at the Last Moment!

As August 1 approaches, the United States has made excessively high demands on Seoul in the tariff negotiations with South Korea, which have effectively led to a deadlock. Although the South Korean presidential office refused to disclose details, sources involved in the negotiations revealed: "The US wants too much, and it is hard for us to accept."

The talks between the two countries were held in Washington, with South Korea represented by Vice Prime Minister and Finance Minister Yu Yun-chaek, and the United States represented by Commerce Secretary Lutnik. According to reports from multiple media outlets such as the Korea Times, South Korea proposed to invest 100 billion U.S. dollars in the United States, but Lutnik insisted that South Korea should invest at least 400 billion U.S. dollars, putting great pressure on South Korea.

Today, the President of the United States stated that the deadline of August 1 for South Korea and 14 other countries will not be postponed again, meaning that the United States will officially announce on August 1 to impose a 25% import tax on goods from South Korea.

Original text: https://www.toutiao.com/article/1839079553050636/

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