High-Stakes Talks: South Korea and U.S. Aim to Tackle Trade Tariffs

South Korean Finance Minister Choi Sang-mok and U.S. Treasury Secretary Scott Bessent are slated to meet in Washington to address trade tariffs. A focus will be on negotiating the 25% reciprocal tariff announced by President Trump. The talks aim to mitigate adverse effects on South Korean businesses.

South Korean Finance Minister Choi Sang-mok is set to meet with U.S. Treasury Secretary Scott Bessent next week. The discussions, prompted by a suggestion from Bessent, will focus on trade issues, especially on addressing newly announced tariffs.

Choi aims to secure an agreement in principle, particularly as the U.S. engages in similar talks with nations like Japan. Choi's visit aligns with the upcoming meetings of G20 finance ministers during the spring gatherings of the International Monetary Fund and the World Bank in Washington.

The South Korean government, led by acting President Han Duck-soo, is keen on minimizing the economic fallout from these trade tariffs. Negotiations will initially address delaying the 25% reciprocal tariff proposed by President Trump. White House Press Secretary Karoline Leavitt noted the existence of over 15 tariff-related proposals under review, with potential deals likely happening soon.

(With inputs from agencies.)