2 weeks Ago
ISTANBUL South Korea and the US are set to hold tariff negotiations in Washington this week, with finance and trade ministers from both countries participating, the South Korean government announced Sunday, according to Yonhap News. Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun will lead the South Korean delegation, while US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will represent the American side. The South Korean government stated that the upcoming tariff negotiations were initiated by Washington, and both sides are currently coordinating the meeting’s schedule and agenda.
The talks follow US President Donald Trump’s recent decision to impose “reciprocal” tariffs on several trade partners, including a 25% tariff on South Korean goods. He also announced a 90-day pause on the new measures to allow time for negotiations. Prior to the announcement of reciprocal tariffs, the Trump administration had already begun levying significant duties on imports of steel, aluminum and automobiles.
In recent months, Seoul and Washington have discussed a broad range of trade-related issues, including tariffs, non-tariff barriers, and cooperation in sectors such as energy and shipbuilding..
