SEOUL: South Korea and the US have agreed to work toward a "July Package," a comprehensive package deal aimed at eliminating US tariffs on Korean exports before July 8, when the 90-day grace period on US "reciprocal tariffs" expires,

South Korea and the United States agreed to craft a package of deals aimed at removing new U.S. tariffs before the pause on reciprocal tariffs are lifted in July, Seoul's delegation said after the first round of trade talks in Washington.

The country is a major exporter to the US and giants such as Samsung Electronics and automaker Hyundai stand to take a hefty hit if the White House goes ahead with its threatened 25 per cent "reciprocal" tariffs.