Seoul: S. Korea's Finance Minister Koo Yun-cheol announced that he will hold "2+2" high-level trade talks with the United States later this week, ahead of the looming August 1 deadline for bilateral negotiations on U.S. tariff measures.
According to Yonhap News Agency, Koo detailed that he and Trade Minister Yeo Han-koo would travel to Washington for the discussions scheduled for Friday, where they will meet U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. The talks aim to address the impending 25 percent reciprocal tariffs on South Korean products, as well as sectoral tariffs on auto and steel imports.
Koo highlighted the formation of a unified team involving relevant ministries to develop a coordinated strategy that serves the national interest. While he refrained from elaborating on Seoul's negotiation strategy, he confirmed that the foreign and industry ministers would also visit the U.S. to engage with their counterparts.
The U.S. originally implemented the reciprocal tariffs on April 9, with a pause initiated the same day to allow for negotiations, a pause which was later extended by Trump. As the August 1 deadline approaches, Koo emphasized the government's focus on negotiations rather than seeking another extension. Koo officially assumed his role as finance minister on Monday.