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5d ago

South Korea and U.S. Prepare for High-Stakes Trade Talks in Washington

Finance Minister Choi Sang-mok arrives in Washington as both nations aim to resolve tariff disputes and strengthen economic ties ahead of April 24 consultations.

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 and American flags fly next to each other at Yongin, South Korea, August 23, 2016. Photo: Ken Scar / US Army / Handout
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)
Foreign Minister Cho Tae-yul (R) attends a plenary session of the parliamentary foreign affairs and unification committee at the National Assembly in Seoul on April 23, 2025. (Yonhap)

Overview

  • South Korea's Finance Minister Choi Sang-mok has arrived in Washington to attend the '2+2' trade consultations scheduled for April 24 with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer.
  • The talks will address U.S.-imposed 'reciprocal' tariffs, currently paused at 10% for 90 days, and explore potential adjustments or exemptions for South Korean exports.
  • Discussions will also focus on joint projects in shipbuilding and energy, reflecting a shared commitment to long-term bilateral economic cooperation.
  • Acting President Han Duck-soo has expressed optimism for a 'win-win' outcome, emphasizing the enduring strength of the U.S.-South Korea alliance.
  • Observers suggest the talks may also touch on non-tariff issues, including South Korea's ban on certain U.S. beef imports and cost-sharing for U.S. Forces Korea.