S. Korea, US to hold '2+2' trade talks in Washington: finance minister
Koo said he and Trade Minister Yeo Han-koo will head to Washington for the talks set to be held Friday, involving US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer.
"With the Aug. 1 deadline fast approaching, relevant ministries have formed a unified team to respond with a well-coordinated and practical strategy for the national interest," Koo told reporters following a meeting on key economic affairs.
When asked about Seoul's negotiation strategy, Koo, who also serves as deputy prime minister for economic affairs, declined to elaborate.
The US is set to start imposing 25 percent reciprocal tariffs on South Korean products Aug. 1, in addition to a range of sectoral tariffs, including 25 percent duties on auto and steel imports, that are already in place.
"The foreign minister and the industry minister will also travel to the United States as early as this week to meet with their respective counterparts in an effort to persuade Washington," Koo said.
The reciprocal tariffs originally took effect on April 9, but Trump paused them the same day for 90 days to allow for negotiations. He later extended the pause, saying the US will start imposing them on Aug. 1.
Asked about the possibility of the deadline being further extended, Koo said the government's current focus is on negotiations.
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