Washington: South Korea's top economic officials have held high-level talks with U.S. Commerce Secretary Howard Lutnick, just days ahead of a looming deadline for new U.S. tariff measures, Seoul's finance ministry said Wednesday.
According to Yonhap News Agency, Finance Minister Koo Yun-cheol, Industry Minister Kim Jung-kwan, and Trade Minister Yeo Han-koo met with Lutnick in Washington on Tuesday (local time) for two hours to discuss bilateral trade issues. The discussions took place as the United States prepares to impose "reciprocal" tariffs, potentially including a 25 percent duty on South Korean goods, starting Friday, unless a last-minute agreement is reached.
In a recent statement, U.S. President Donald Trump mentioned that Washington is considering setting tariff rates between 15 percent and 20 percent for countries that have not yet finalized trade deals with the U.S. This development comes as a potential relief for countries like South Korea, which are engaged in ongoing negotiations.
Koo is also scheduled to meet with U.S. Treasury Secretary Scott Bessent on Thursday (local time), as stated by the ministry. Seoul has intensified its diplomatic efforts in recent weeks to obtain an exemption or reduce the scope of the planned U.S. duties. These tariffs target key South Korean exports such as automobiles, machinery, and steel products.