South Korean Finance Minister Koo Yun‑cheol and Trade Minister Yeo Han‑koo will travel to Washington this Friday to engage in advanced discussions with their U.S. counterparts, including Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. These talks are part of renewed efforts to avert a looming escalation of U.S. tariffs set to take effect on August 1.
This diplomatic outreach marks the first major engagement by South Korea’s newly appointed economic team, established following the inauguration of President Lee Jae‑Myung on June 4. Faced with a wave of reciprocal tariffs affecting dozens of trade partners—including strategic allies like South Korea—the government is racing against the calendar.
Minister Koo emphasized that Seoul will approach the negotiations pragmatically and meticulously. Meanwhile, Yeo has expressed his intention to pivot the discussions toward forming a joint manufacturing alliance with the United States Reuters. Industry Minister Kim Jung‑kwan underlined the urgency, stating that the talks are in a “critical phase” and acknowledged the government’s commitment to reaching a resolution onsite by the August 1 cutoff.
The backdrop to this urgency is the recent Executive Order signed by U.S. President Trump extending the pause on certain reciprocal tariffs until August 1. The U.S. administration has warned that, unless agreements are reached with partner countries, sweeping tariff hikes will be implemented post-shutdown en.wikipedia.org. In parallel, Japan has dispatched its negotiator, Ryosei Akazawa, to Washington with a similar objective—to close a deal ahead of the same deadline.
