On July 24, when the US requested a sudden postponement of the Korea-US 2+2 trade talks, Deputy Prime Minister and Minister of Economy and Finance Koo Yoonchul canceled his departure and left Incheon International Airport Terminal 2. 2025.7.24. Photo by Kang Jinhyung
The Korea-US '2+2 Finance and Trade Talks' scheduled to be held in Washington, D.C. on July 25 were suddenly canceled. It was reported that the US side notified the postponement of the meeting by email about an hour and a half before departure, citing an urgent schedule for Secretary of the Treasury Scott Besant.
On July 24, the Ministry of Economy and Finance announced to the press, "The 2+2 talks scheduled with the US on July 25 will not be held due to Secretary Besant's urgent schedule. The US side has proposed to hold the meeting as soon as possible, and both sides plan to reschedule at the earliest possible date."
The two countries had planned to hold the talks in Washington, D.C., one week before the mutual tariff measures were set to take effect on August 1. Deputy Prime Minister and Minister of Economy and Finance Koo Yoonchul and Trade Minister Yeo Han-koo were to represent Korea, while Secretary Besant and USTR Representative Jamison Greer were to represent the US at the negotiation table.
The Ministry of Economy and Finance explained, "The US side has proposed to hold the meeting as soon as possible, and both sides plan to reschedule at the earliest possible date."
The US side reportedly sent the cancellation notice by email at around 9 a.m. on July 24, without specifying the exact reason. An official from the Ministry of Economy and Finance stated, "The US side did not clearly explain the specific circumstances," and added, "We are currently working to identify the details."
Deputy Prime Minister Koo was reportedly waiting to depart for the US on a Korean Air flight scheduled for 10:25 a.m. at Incheon Airport when he received the news.
Currently, Minister of Trade, Industry and Energy Kim Jeonggwan and Trade Minister Yeo Han-koo, who have already started their respective visits to the US, are expected to continue contacts with their counterparts. The Ministry of Economy and Finance stated, "The consultations between Minister Kim, Trade Minister Yeo, and their US counterparts are proceeding as originally planned."
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