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Korea-U.S. trade talks to follow '2+2 format' with finance, trade chiefs attending

Published: 20 Apr. 2025, 14:15 Updated: 21 Apr. 2025, 11:55

Minister of Trade, Industry and Energy Ahn Duk-geun, left, and Deputy Prime Minister and Finance Minister Choi Sang-mok on March 19 at the Government Complex in central Seoul [YONHAP]

The Korea-United States trade negotiations scheduled for this week will take place in a "2+2 format," with both countries’ finance and trade chiefs attending together, the government confirmed Sunday.

The two governments are coordinating a high-level bilateral meeting in Washington around Thursday or Friday that would bring together the finance and trade chiefs from both countries, according to government officials on Sunday.

The announcement came shortly after Minister of Trade, Industry and Energy Ahn Duk-geun said the format would likely be confirmed and announced “within a few hours" during his appearance on KBS’s "Sunday Diagnosis" program on Sunday morning.

The United States is expected to send Treasury Secretary Scott Bessent, who has recently taken a leading role in trade negotiations, along with Jamieson Greer, the U.S. Trade Representative (USTR) overseeing policy development and negotiations. Representing Korea will be Deputy Prime Minister and Finance Minister Choi Sang-mok, the country’s top economic policymaker, and Trade Minister Ahn.

Minister of Trade, Industry and Energy Ahn Duk-geun in Seoul on April 18 [NEWS1]

Deputy Prime Minister and Finance Minister Choi Sang-mok at the National Assembly in western Seoul on April 16 [NEWS1]

Choi had initially planned to meet separately with Secretary Bessent during his visit to Washington to attend the G20 Finance Ministers' Meeting. The bilateral meeting was intended to cover a range of issues, including trade.

Ahn is also set to visit Washington around Thursday and is arranging meetings with U.S. officials, including USTR Jamieson Greer and Commerce Secretary Howard Lutnick, to discuss tariff adjustments affecting Korean exports to the United States.

While both Choi and Ahn had initially planned to hold separate meetings with their U.S. counterparts, the format was changed at Washington’s request to bring finance and trade officials together in a single session.

There is also speculation that Commerce Secretary Lutnick could join the discussions, potentially expanding the format to a “2+3” meeting.

The Korean government is preparing to propose a package deal to minimize the impact of product-specific tariffs, particularly on cars, steel and semiconductors, by addressing mutual tariff concerns and advocating for the removal of nontariff barriers.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.

Update: Jaemieson Greer is the U.S. Trade Representative (USTR).

BY HYEON YE-SEUL [[email protected]]