The Blubber

U.S. President Donald Trump said he had a “great call” with South Korea’s acting President Han Duck-soo on Tuesday, during which they discussed tariffs, shipbuilding, and potential energy deals, just one day before a planned 25% tariff on South Korean exports is set to take effect; Trump added that “their top team is on a plane heading to the U.S.” and expressed optimism about the chances of a strong bilateral deal, while South Korea’s trade minister, Cheong In-kyo, who is traveling to Washington to meet with U.S. Trade Representative Jamieson Greer, said the government has been exploring ways to increase imports from the U.S.—including LNG—as an alternative to reducing exports, which he noted is more difficult, and welcomed Trump’s openness to negotiations with countries beyond China, while also planning to challenge the basis of the 25% tariff given the existing free trade agreement between the two nations; earlier, Han told CNN he hopes to negotiate with the U.S. rather than align with China, Japan, or other countries in opposition to the tariffs, and Finance Minister Choi Sang-mok warned that a newly announced 46% duty on Vietnam—where South Korean firms like Samsung and LG have major manufacturing operations—would deliver a “huge blow” to South Korean exporters.