• South Korea and the US are set to begin trade negotiations aimed at easing the punitive tariffs imposed by the Trump administration, which have significantly impacted South Korea's export-driven economy. The acting President of South Korea, Han Duck-soo, emphasized the need for a win-win solution during a meeting with policymakers, as preliminary trade data indicated a 14.3% drop in South Korean shipments to the US in early April. The negotiations are critical for stabilizing South Korea's economy, which is facing challenges due to a political crisis and the looming presidential election.

• The outcome of these negotiations will not only affect South Korea but also set a precedent for other nations facing similar tariff challenges. The US has imposed a 25% tariff on various imports from South Korea, which has been temporarily reduced to 10% for 90 days. The discussions will cover multiple topics, including trade surpluses and cooperation in sectors like shipbuilding and defense. Analysts predict that if tariffs remain, South Korea's GDP could be negatively impacted by up to 0.7% by 2028, highlighting the urgency of these talks.