South Korea to hold 2+2 trade talks with US this week

South Korean Finance Minister Koo Yun-cheol said Tuesday that he will hold "2+2" ministerial-level trade talks with the US this week, ahead of an Aug. 1 deadline for negotiations on US tariff measures, Yonhap News Agency reported.

Koo said he and Trade Minister Yeo Han-koo will travel to Washington, DC for talks on Friday with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer.

"With the Aug. 1 deadline fast approaching, relevant ministries have formed a unified team to respond with a well-coordinated and practical strategy for the national interest," Koo told reporters after a key economic meeting.

Asked about Seoul's negotiation strategy, Koo, who is also deputy prime minister for economic affairs, declined to give details.

The US is set to begin imposing 25% reciprocal tariffs on South Korean goods on Aug. 1, in addition to existing 25% duties on auto and steel imports.

"The foreign minister and the industry minister will also travel to the United States as early as this week to meet with their respective counterparts in an effort to persuade Washington," Koo said.

The reciprocal tariffs were initially set to begin on April 9, but President Donald Trump paused them the same day for 90 days to allow negotiations. He later extended the pause, with the tariffs now scheduled for Aug. 1.

Asked if the deadline might be extended again, Koo said the government is focused on negotiations.

This will be the first Washington trip by top South Korean economic officials appointed under President Lee Jae-myung, who took office June 4. Koo officially became finance minister on Monday.

The previous "2+2" trade talks in April involved then-Finance Minister Choi Sang-mok and Industry Minister Ahn Duk-geun, both appointed under the Yoon Suk Yeol administration.