South Korea and Vietnam Strengthen Ties Amid U.S. Tariffs: New Trade Deal Targets $150 Billion

To counter looming U.S. tariffs, South Korea and Vietnam are bolstering their trade partnership by establishing a new agreement aimed at reaching a target of $150 billion in bilateral trade by 2030. This ambitious goal was reached during high-level talks between Foreign Minister Cho Tae-yul of South Korea and Vietnamese Deputy Prime Minister Bui Thanh Son in Hanoi, who acknowledged the impact of the impending U.S. tariffs on their economic relationship. 25% tariffs imposed on goods from South Korea to Vietnam, and 46% for Vietnam to South Korea will begin on July 9th, 2025.