Particle.news
Download on the App Store
8 ARTICLES
·
4d ago

South Korea and U.S. Hold First 2+2 Talks to Resolve Trade Tensions

High-level discussions focus on removing suspended reciprocal tariffs, addressing auto duties, and exploring strategic trade cooperation.

A car carrier transporting vehicles made by Kia Motors, which is part of South Korea's biggest automaker company Hyundai Motor, arrives at Pyeongtaek port in Pyeongtaek, South Korea, April 15, 2025. REUTERS/Kim Hong-Ji
South Korean Industry Minister Ahn Duk-geun (second from R) departs for Washington from Incheon International Airport, about 60 kilometers west of Seoul, on April 23, 2025, for trade consultations with the Donald Trump administration. (Yonhap)
Industry Minister Ahn Duk-geun (C) arrives at Dulles International Airport near Washington on April 23, 2025. (Yonhap)
Image

Overview

  • South Korean Finance Minister Choi Sang-mok and Industry Minister Ahn Duk-geun arrived in Washington for inaugural 2+2 trade talks with U.S. officials on April 23, 2025.
  • The talks aim to secure the removal of suspended 25% reciprocal tariffs and resolve U.S. auto tariffs that began on April 3, with additional duties on auto parts set for May 3.
  • South Korea plans to propose industrial cooperation measures, including leveraging Hyundai Motor Group's $21 billion U.S. investment plan, to address tariff concerns.
  • The Trump administration's broader tariff policies and expanded Section 232 reviews have heightened global trade unpredictability, impacting steel, autos, electronics, and critical minerals.
  • Seoul is also pursuing long-term strategies, including targeted tariff exemptions and accelerating its bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.