Jeju: South Korean Trade Minister Cheong In-kyo is set to engage in discussions with U.S. Trade Representative Jamieson Greer later today, focusing on tariffs and other trade matters, a South Korean official revealed. Both representatives are currently attending the Asia-Pacific Economic Cooperation (APEC) trade ministers’ meeting on Jeju Island.

According to Yonhap News Agency, the forthcoming meeting follows an agreement reached in Washington last month, where both nations committed to formulating a “package” deal addressing U.S. tariffs and economic cooperation by early July. This timeline coincides with the end of the 90-day suspension of the U.S.’s new country-specific tariffs, which include 25 percent duties on South Korean goods. In response, Seoul has suggested enhancing bilateral cooperation in the shipbuilding and energy sectors to reduce U.S. tariffs on Korean products.

Greer is also scheduled to meet with South Korea’s Minister of Trade, Industry and Energy, Ahn Duk-geun, on Friday. The ongoing APEC ministerial meeting began earlier today and will conclude on Friday, attracting significant attention as South Korea, along with other major APEC members like Japan and China, engages in trade negotiations with Washington.

In related developments, Greer previously met with Chinese trade envoy Li Chenggang during the APEC meeting. Details of their discussions remain undisclosed. This meeting followed an agreement between the U.S. and China, reached during high-stakes talks in Geneva over the weekend, to temporarily reduce tariffs for 90 days. The U.S. decreased tariffs on Chinese goods from 145 percent to 30 percent, while China lowered tariffs on U.S. goods from 125 percent to 10 percent.

Minister Cheong also met with the Chinese trade envoy earlier today to discuss multilateral trade systems and global supply chain issues. During their meeting, Li emphasized China’s commitment to supporting global supply chains and the importance of multilateralism, although economic security topics were not addressed.