South Korea has requested exemptions from reciprocal and item-specific U.S. tariffs, and has proposed cooperation on shipbuilding and energy, in high-profile trade talks with the U.S. 

The finance ministry said Friday that South Korea made the request during the “two-plus-two” trade talks involving the top finance and trade officials from both nations in Washington on Thursday. 

Finance Minister Choi Sang-mok said the two sides have formed a consensus that South Korea will prepare a “July package” for removal of the tariffs before July 8, when reciprocal tariffs are set to take effect, and that the two countries will continue to discuss tariffs, nontariff measures, economic security, investment and foreign exchange policies.

In the hourlong meeting, South Korea reportedly focused on the automobile sector, which faces the greatest negative impact from the U.S. tariffs. 

The government said the issue of how to share defense costs for U.S. Forces Korea never came up in the talks. 

The government added that the two sides also did not discuss revising the South Korea-U.S. free trade agreement or expanding imports of U.S. beef.