Overview

• The '2+2' meeting, set for later this week in Washington, will involve South Korea's Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun, alongside U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer.
• The talks aim to address U.S.-imposed reciprocal tariffs, including a 25% duty on South Korean goods, which were suspended for 90 days to facilitate negotiations.
• South Korea will prioritize securing tariff exemptions for automobiles and semiconductors, two of its key export sectors, through a consultative approach emphasizing mutual benefits.
• The format of the meeting was changed at Washington's request to combine finance and trade officials, with speculation about the possible inclusion of U.S. Commerce Secretary Howard Lutnick.
• This meeting follows months of bilateral discussions on trade issues and comes after South Korea participated in trilateral economic talks with China and Japan to address regional trade challenges.