South Korea-U.S. Summit at APEC Draws Attention to Tariff Talks
People Power Party Pressures for "Substantial and Transparent Results"
Democratic Party Defends with Caution, Saying "A Deal Won't Be Easy"
With the upcoming South Korea-U.S. summit scheduled on the sidelines of the 2025 Asia-Pacific Economic Cooperation (APEC) summit, both the ruling and opposition parties are closely monitoring the potential impact on the political landscape. The South Korea-U.S. tariff negotiations are a major national economic and diplomatic issue, as well as a significant variable in domestic politics.
The People Power Party, having seized an opportunity for a turnaround amid public discontent over real estate policies, is also sharpening its stance against the government regarding APEC. The party is pressuring for substantial and transparent results. In contrast, the Democratic Party of Korea has drawn a line, stating, "We must not abandon our principles due to time constraints."
President Lee Jae-myung and U.S. President Donald Trump are holding a summit at the White House in Washington DC on August 25 (local time). Photo by Yonhap News
Kim Do-eup, Policy Committee Chair of the People Power Party, said at a National Assembly audit strategy meeting held at the main building of the National Assembly on the morning of October 28, "To reach KOSPI 5000, we must eliminate the uncertainty surrounding South Korea-U.S. tariffs and achieve results that serve the national interest," adding, "Now is not the time for self-congratulation or popping champagne."
Jeong Hee-yong, Secretary General of the People Power Party, also pointed out, "There is a significant gap between President Lee Jaemyung, who says key issues remain, and U.S. President Donald Trump, who claims a deal is near." He emphasized, "A delay in negotiations is not a failure, but it is an irresponsible statement for businesses." By expressing concerns about the delay, he underscored his criticism of the situation.
The People Power Party is increasing pressure regarding the South Korea-U.S. tariff negotiations because it has become unlikely that an agreement will be reached during this APEC period. In an interview with Bloomberg published on October 26 (local time), President Lee expressed a negative stance on the $350 billion U.S. investment package, the biggest issue in the trade talks, stating that "the talks are still at an impasse." If the negotiations fall through, the People Power Party is expected to intensify its offensive against the government, as it did during the previous summit.
The Democratic Party is not hiding its hopes for a successful agreement, but it is also emphasizing caution. A Democratic Party lawmaker from the National Assembly’s Foreign Affairs and Unification Committee told The Asia Business Daily, regarding the likelihood of a tariff deal, "I estimate it’s about fifty-fifty. It would be good if the negotiations go well, but it is not right to abandon our principles simply because we are pressed for time." Regarding the government’s statement that "it may take time to conclude the tariff negotiations," the lawmaker said, "That may be a negotiation strategy, but there is no need to be unconditionally submissive to the United States. That is why there is a sufficient possibility that a deal may not be reached."
A Democratic Party lawmaker from the APEC special committee offered a firm outlook, stating, "As with the presidential office’s announcement, I expect it will be difficult to reach an agreement." The lawmaker added, "This round of negotiations is thoroughly favorable to the United States and is unfair. That is why I do not think an agreement will be easy." Regarding the South Korea-U.S. summit to be held during APEC, the lawmaker predicted, "I expect there will be discussions about working together in a mutually beneficial direction."
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