Trade Talks With US Helped Ease Uncertainties, Says South Korea FinMin

USTR said that South Korea and the United States agreed to seek "expedient and meaningful" progress toward "reciprocal and balanced" trade during a bilateral meeting in Washington the previous day.

South Korea is experiencing a lack of political leadership following former President Yoon Suk Yeol's impeachment over his shocking martial law declaration.

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

Choi made the remarks upon arriving at Incheon International Airport, west of Seoul, after his visit to Washington, where he, along with Industry Minister Ahn Duk-geun, held trade talks on Thursday with US Treasury Secretary Scott Bessent and U.S. Trade Representative (USTR) Jamieson Greer, reports Yonhap news agency.

"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 US 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 US side about South Korea's political schedule and the need for cooperation with the National Assembly regarding the tariff talks.

South 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 noted.

Meanwhile, USTR said that South Korea and the United States agreed to seek "expedient and meaningful" progress toward "reciprocal and balanced" trade during a bilateral meeting in Washington the previous day.

In a readout, the office cast the meeting between Greer and Duk-geun, as "productive." The two sides met as Seoul is angling to secure exemptions and exceptions from the Trump administration's "reciprocal" and sectoral tariffs.

"During the productive meeting, Ambassador Greer underscored the priorities of President Trump's America First Trade Policy, and both sides agreed on the importance of achieving expedient and meaningful progress toward reciprocal and balanced trade between the United States and Korea," the office said.

"The ministers discussed next steps between USTR and MOTIE and instructed their teams to engage in technical discussions next week," it added.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)