#TariffsPause South Korea and the United States agreed on Thursday to joint efforts in developing a "package" agreement on new American tariffs and issues of economic and industrial cooperation before the pause on mutual tariffs ends in July.

South Korea's Minister of Finance Choi Sang-mok told reporters that both parties agreed to finalize the agreement by July 8 - when U.S. President Donald Trump's 90-day pause on "mutual" tariffs ends - through negotiations focusing on four categories: tariff and non-tariff measures; economic security; investment cooperation; currency policy.

To this end, the Ministry of Industry of Seoul and the Office of the U.S. Trade Representative plan to begin working-level negotiations next week, and Trade Representative Jamieson Greer will visit South Korea for high-level talks as part of the ministerial negotiations on Asia-Pacific economic cooperation, which will begin on May 15.