SEOUL, July 30 (AJP) - South Korean Deputy Prime Minister and Finance Minister Koo Yoon-cheol held two hours of trade discussions with the United States Commerce Secretary Howard Lutnick on Tuesday (local time), South Korea's Ministry of Economy and Finance said. The meeting took place immediately after Koo arrived in Washington, D.C., with Trade Minister Kim Jung-kwan and chief trade negotiator Yeo Han-koo.
The talks come as South Korea faces a 25 percent U.S. tariff on its exports starting August 1, part of President Donald Trump's "reciprocal" tariff policy affecting multiple countries, including Japan. Trump's 90-day pause on global reciprocal tariffs is set to expire, potentially exposing South Korean products, including automobiles and semiconductors, to steep duties.
Upon arrival at Washington's Dulles International Airport, Koo said he came to meet Treasury Secretary Scott Bessent, who makes key decisions in Korea-U.S. trade negotiations. He pledged to conduct "national interest-centered negotiations" while explaining Korea-U.S. economic cooperation projects such as shipbuilding.
Koo is scheduled to meet with Bessent on August 1 for what could be crucial talks ahead of the tariff deadline. The urgency has intensified after Japan secured a deal to cap US tariffs at 15 percent, raising concerns in Seoul that it could be left behind in the global round of negotiations.
reporter
Candice Kim
candicekim1121@ajupress.com
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