Washington: South Korea and the United States engaged in significant trade discussions in Washington on Thursday, focusing on removing the Trump administration’s “reciprocal” tariffs and addressing other trade issues. The talks mark the first “two-plus-two” trade consultations between the two nations, held at the U.S. Department of the Treasury.

According to Yonhap News Agency, South Korea’s Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun met with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. The Trump administration had previously introduced a 25 percent duty as part of country-specific tariffs on April 9, which were paused for negotiations. Additionally, a 25 percent levy on automobiles was enacted on April 3.

The discussions come as South Korea seeks to abolish the reciprocal tariffs and swiftly address the U.S. auto tariff measures, which are of particular concern to South Korea, a major exporter of cars to the U.S. market. In the previous year, South
Korea’s car exports to the U.S. amounted to $34.7 billion, which accounted for 49.1 percent of its total car exports. Hyundai Motor Group and GM Korea were notable contributors, exporting approximately 970,000 and 410,000 units to the U.S., respectively.

Hyundai Motor Group recently announced plans to invest $21 billion in the U.S. by 2028. This move aligns with the U.S. administration’s strategy to bolster domestic manufacturing and address trade deficits. Observers have noted that the talks could potentially cover a range of bilateral trade issues, including U.S. tariffs and non-tariff barriers like South Korea’s ban on American beef from cattle older than 30 months.

Seoul has clarified that defense-cost sharing would not be part of the agenda, despite President Trump’s “one-stop shopping” negotiation approach, which suggested that talks could extend beyond just trade matters. The choice of venue at the Treasury Department is seen as a strategic decision to minimize the likelihood of an unscheduled appear
ance by Trump, who recently made a surprise visit at similar talks with Japan.

The outcome of the discussions is expected to be revealed later, as both nations navigate these complex trade issues in pursuit of mutually beneficial resolutions.