(2nd LD) S. Korea, U.S. to hold '2+2' trade talks in Washington: finance minister
SEOUL, July 22 (Yonhap) -- Finance Minister Koo Yun-cheol said Tuesday that he will hold so-called "2+2" high-level trade talks with the United States later this week, ahead of the looming Aug. 1 deadline for bilateral negotiations on the U.S.' sweeping tariff measures.
Koo said he and Trade Minister Yeo Han-koo will head to Washington for the talks set to be held Friday (local time), involving U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative (USTR) 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 following a meeting on key economic affairs.
When asked about Seoul's negotiation strategy, Koo, who also serves as deputy prime minister for economic affairs, declined to elaborate.
The U.S. is set to start imposing 25 percent reciprocal tariffs on South Korean products Aug. 1, in addition to a range of sectoral tariffs, including 25 percent duties on auto and steel imports, that are already in place.
"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 originally took effect on April 9, but Trump paused them the same day for 90 days to allow for negotiations. He later extended the pause, saying the U.S. will start imposing them on Aug. 1.
Asked about the possibility of the deadline being further extended, Koo said the government's current focus is on negotiations.
In an interview with CBS earlier this week, U.S. Commerce Secretary Howard Lutnick said Aug. 1 is a "hard deadline" for Washington's reciprocal tariffs, emphasizing that the new tariffs would go into effect as scheduled. However, he added that "nothing stops countries from talking to us after Aug. 1."
The upcoming visit will mark the first trip to Washington by high-level South Korean economic officials appointed under President Lee Jae Myung, who took office on June 4. Koo officially assumed his post as finance minister on Monday.
The last round of "2+2" trade talks held in Washington in April had involved former Finance Minister Choi Sang-mok and former Industry Minister Ahn Duk-geun, both appointed under the previous Yoon Suk Yeol administration.
khj@yna.co.kr
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