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Korea-U.S. tariff talks ease uncertainty, open path for orderly consultation, finance chief says

Published: 28 Apr. 2025, 08:54 Updated: 28 Apr. 2025, 20:47

Finance Minister Choi Sang-mok speaks to reporters at Incheon International Airport on April 27. [YONHAP]

Korea's Finance Minister Choi Sang-mok said Sunday that last week's talks with the United States on its sweeping tariff scheme helped ease uncertainty and opened the door for orderly consultations.

Choi made the remarks upon arriving at Incheon International Airport after his visit to Washington, where he, along with Industry Minister Ahn Duk-geun, held trade talks on Thursday with U.S. Treasury Secretary Scott Bessent and U.S. Trade Rep. Jamieson Greer.

"We clarified the agenda items and laid the groundwork for future negotiations after reaching a consensus on the discussion schedule," Choi said. "We have reduced uncertainty and opened the door for orderly discussions moving forward."

During the meeting, the two nations agreed to make joint efforts to craft a "package" agreement on new U.S. tariffs and economic cooperation issues by July 8, when the 90-day pause of the Trump administration's sweeping tariffs is set to be lifted.

Choi also noted that he fully explained to the U.S. side about Korea's political schedule and the need for cooperation with the National Assembly regarding the tariff talks.

Korea is experiencing a lack of political leadership following former President Yoon Suk Yeol's impeachment over his shocking martial law declaration. A presidential election is scheduled for June 3.

Seoul and Washington will be able to have "constructive discussions" about foreign exchange issues, as the two nations have direct and regular communication channels between their financial authorities, Choi said.

Yonhap