Seoul: Finance Minister Koo Yun-cheol is set to engage in pivotal discussions with U.S. Treasury Secretary Scott Bessent this Thursday, aiming to finalize a tariff agreement just before the substantial reciprocal duties are implemented on August 1.
According to Yonhap News Agency, the negotiations, scheduled for Thursday (U.S. time), are part of Seoul's efforts to secure a trade agreement with the United States to reduce the 25 percent reciprocal tariff and sector-specific duties imposed by the previous Trump administration on South Korean exports. The meeting is expected to occur at the U.S. Department of the Treasury headquarters in Washington, D.C., although specific details regarding the time and location remain unconfirmed.
The South Korean presidential office has previously announced that both Koo and Foreign Minister Cho Hyun will meet with Bessent and U.S. Secretary of State Marco Rubio, respectively, the following week. This is part of a comprehensive effort to advance trade negotiations with Washington. Tensions have heightened over the possibility of reaching a resolution before the impending deadline, especially after Washington unexpectedly canceled high-level trade talks last week.