South Korean presidential front runner says US risks isolation with tariffs

SEOUL - South Korea’s presidential front runner said Seoul should not rush a trade deal with the United States and called for a coordinated response with other countries to US tariffs, arguing that Washington risked isolation with its policy.

Mr Lee Jae-myung, the

presidential candidate of the Democratic Party

, said on May 8 that he expected Washington to face an uphill battle to pursue its “dangerous” policy, which he said threatened to increase inflation and undermine US national credibility.

“There is a high chance the United States could end up isolating itself,” he said during an interview with several economy YouTube channels.

Mr Lee is the liberal South Korean politician favoured to become the country’s next leader on the June 3 snap election called

after Yoon Suk Yeol was removed from office

over his brief attempt to impose martial law in December.

Mr Lee said South Korea should not be the first country to reach a deal with the United States. “It is important not to rush in the first place,” he said.

Mr Lee also said he has asked businesses to refrain from holding separate talks with the US to get tariff exemptions, saying that the government and businesses should join forces to use the latter's US investments as negotiating cards.

He also said South Korea needs to join hands with other “neighbouring countries” such as Japan to respond to US tariff policy.

The United States has prioritised talks with key trading partners and allies like Japan, Korea and India, as Washington scrambles to seal a flurry of trade deals before the 90-day pause in US tariffs expires in early July.

US Treasury Secretary Scott Bessent said US talks with South Korea were “moving faster” than he thought after their first formal talks in late April. But South Korea has taken a cautious stance, saying it does not see an imminent deal.

The working-level talks with the US were further cast into doubt on May 1 when the caretaker government was rocked by the resignation of the finance minister, leaving the education minister as acting president. REUTERS