Trade negotiations between South Korea and the United States are proceeding smoothly and faster than expected, said U.S. Treasury Secretary Scott Bethant on the 24th.
During a meeting with President Trump, who was attending the U.S.-Norway summit at the White House, Secretary Bethant noted in response to the president's directive to 'explain the tariff negotiation situation with other countries,' that 'today we had a very successful bilateral meeting with South Korea.'
Secretary Bethant stated, 'We can move faster than I thought. And we will discuss the technical terms as early as next week, aiming to reach an agreement on understanding by then.'
He added, 'The South Koreans came early to negotiate. They brought their best proposal, and we will see if they follow through on it.'
It remains unclear what the technical terms and the agreement on understanding mentioned by Secretary Bethant entail.
On the same day, Secretary Bethant met with Jamison Greer, U.S. Trade Representative (USTR), along with Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok and Minister of Trade, Industry and Energy Ahn Duk-geun, for the 'South Korea-U.S. 2+2 trade talks.'