Washington: South Korea's Trade Minister Yeo Han-koo pledged to do "all we can" to secure a trade deal with U.S. President Donald Trump's administration as he arrived in Washington with the Aug. 1 deadline for tariff negotiations drawing near. Yeo emphasized Seoul's priority to maximize national interests in these crucial negotiations, as he and new Finance Minister Koo Yun-cheol prepare to participate in the "2+2" trade talks with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer on Friday.
According to Yonhap News Agency, Yeo stated upon his arrival at Dulles International Airport that South Korea plans to engage in comprehensive negotiations. He mentioned that he will meet with U.S. administration officials and other stakeholders to persuade them, emphasizing the commitment to do everything possible to reach a favorable agreement.
South Korea is actively seeking to mitigate the impact of the Trump administration's proposed 25 percent "reciprocal" tariffs and other sector-specific tariffs, which pose a significant threat to its export-focused economy. The reciprocal tariffs are set to be implemented on Aug. 1 if no deal is reached.
Yeo reiterated Seoul's commitment to securing national interests in the face of mounting pressure from the impending deadline for an agreement with the U.S. He acknowledged the seriousness of the situation and assured that efforts will focus on national interests while considering sensitive areas for South Korea.
When asked about the likelihood of reaching a deal before the deadline, Yeo stated that all possibilities remain open. In anticipation of the negotiation deadline, South Korea is intensifying its high-level engagement with the Trump administration.
National Security Adviser Wi Sung-lac arrived in Washington on Sunday, with Industry Minister Kim Jung-kwan scheduled to visit the U.S. capital on Wednesday for talks with Commerce Secretary Howard Lutnick. New Foreign Minister Cho Hyun is also expected to visit Washington for discussions with Secretary of State Marco Rubio. This marks Yeo's third visit to Washington since the administration of President Lee Jae Myung began last month.