Finance minister likely to hold tariff talks with US treasury secretary Thursday: sources
Minister of Economy and Finance Koo Yun-cheol is seen at Incheon International Airport, Thursday, as he canceled his trip to Washington following reports that scheduled high-level trade talks between Korea and the U.S. were postponed by U.S. Treasury Secretary Scott Bessent. Joint Press Corps
Minister of Economy and Finance Koo Yun-cheol is likely to meet with U.S. Treasury Secretary Scott Bessent on Thursday (U.S. time) to reach a tariff deal just before the hefty reciprocal duties take effect on Friday, according to sources, Sunday.
The negotiations come as Seoul seeks to reach a trade deal with the U.S. to lower the 25 percent reciprocal tariff and sectoral duties set by the Donald Trump administration on Korean goods.
The meeting is likely to take place at the U.S. Department of the Treasury headquarters in Washington, D.C., though the exact time and location of the meeting has yet to be confirmed, the sources said.
The presidential office earlier announced that Koo and Foreign Minister Cho Hyun were scheduled to meet next week with Bessent and Secretary of State Marco Rubio, respectively, as it vowed to make an all-out effort in trade negotiations with Washington.
Concerns have grown over whether the two sides will be able to make a breakthrough before the deadline following Washington's abrupt cancellation of high-level trade talks last week.