South Korea and the United States agreed to craft a trade package aimed at removing new U.S. tariffs before the pause on reciprocal tariffs is lifted in July, Seoul's delegation in Washington said after a first round of trade talks.

US Treasury chief Scott Bessent says talks are ‘moving faster than I thought’, and technical terms could be discussed as early as next week.

As it faces the possibility of a 25 percent tariff on its exports, South Korea has taken notice of President Trump’s stated goal to revive U.S. shipbuilding.