South Korea is calling for calm, orderly trade talks with the U.S. as it pushes to finalize a deal by July to avoid new tariffs, officials said after high-level meetings in Washington on Thursday.
During a round of “2+2” talks held Thursday in Washington, South Korean Finance Minister Choi Sang-mok and Trade, Industry and Energy Minister Ahn Dukgeun met with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer to discuss the path forward.
Choi told reporters that future talks will center on four key areas: tariff and non-tariff measures, economic security, investment cooperation, and monetary policy. A statement from South Korea’s Ministry of Finance said Choi proposed finding mutually beneficial solutions and relayed South Korea’s tariff-related concerns.
He also emphasized South Korea’s role as a “reliable partner.” Ahn introduced proposals including joint efforts to help rebuild the U.S. shipbuilding sector, promote balanced and sustainable trade, and enhance South Korea’s energy security. He called for reciprocal and item-specific tariff exemptions for South Korean exports, according to the readout.
Both countries agreed to continue working-level talks and schedule more high-level meetings.
A Thursday note from ANZ highlighted that while South Korea is well-positioned to secure a trade agreement with the U.S., the country’s upcoming June 3 presidential election could delay the timeline for a final deal. The current leadership vacuum stems from the Constitutional Court’s removal of President Yoon Suk Yeol on April 4, following his brief declaration of martial law.
