Deputy Prime Minister and Minister of Economy and Finance Gu Yun-cheol will engage in tariff negotiations with U.S. Treasury Secretary Scott Bessent next week in the United States. As the discussions between the two countries' finance heads are resumed after being postponed two days ago, the mutual tariff negotiations are expected to gain momentum.
According to the Presidential Office and the Ministry of Economy and Finance on the 26th, the U.S. side proposed a trade consultation with Deputy Prime Minister Gu and Secretary Bessent in the United States next week. It is reported that the U.S. side also communicated specific dates for the consultations. Our government plans to review whether it is possible to proceed with the consultation on the date proposed by the U.S. side and will respond shortly.
This trade consultation will be conducted one-on-one between Deputy Prime Minister Gu and Secretary Bessent. Originally, both sides were scheduled to hold a '2+2' consultation on the 25th, including Yeo Han-koo, head of the Ministry of Trade, Industry and Energy's Trade Negotiation Headquarters, and Jamieson Greer, the U.S. Trade Representative. However, the U.S. side canceled the previously scheduled consultation the day before, citing Secretary Bessent's 'urgent schedule.'
A Ministry of Economy and Finance official said, 'The U.S. side proposed holding the consultation next week,' and 'the specific date will be announced as soon as it is confirmed.'