South Korea and U.S. to Hold "2+2" Trade Consultation Between Finance and Trade Ministers in Washington This Week (Updated)

This week, South Korea and the United States will hold tariff negotiations in Washington, D.C. in a "2+2" format, with both finance and trade ministers participating simultaneously.

On April 20, the Ministry of Economy and Finance announced via a press release that Deputy Prime Minister and Minister of Economy and Finance Sangmok Choi will hold a 2+2 trade consultation in Washington, D.C. during his visit to the United States for the Group of Twenty (G20) meetings this week.

On the Korean side, Deputy Prime Minister Choi and Minister of Trade, Industry and Energy Dukgeun Ahn will attend. On the U.S. side, Secretary of the Treasury Scott Besant and U.S. Trade Representative (USTR) Chief Trade Policy Officer Jamieson Greer are scheduled to participate.

The Ministry of Economy and Finance added that this consultation was proposed by the U.S. side, and that the schedule and agenda are currently being finalized.

Given that the meeting is being held at the request of the United States, it is expected that a wide range of issues will be discussed, including participation in the Alaska liquefied natural gas (LNG) project, non-tariff barriers, and exchange rates.