Seoul seeks tariff relief in high-stakes talks with U.S.

South Korea's Finance Minister Choi Sang-mok will head to Washington next week for a pivotal meeting with U.S. Treasury Secretary Scott Bessent, Seoul's finance ministry confirmed on Wednesday.

The visit, arranged at the suggestion of Bessent, will take place during the spring meetings of the International Monetary Fund and World Bank. Choi is also scheduled to attend a gathering of G20 finance ministers.

The talks come as South Korea aims to soften the blow from President Donald Trump's sweeping tariff programme. Though the 25% reciprocal tariff on South Korean goods has been paused for now, Seoul is pushing for a more permanent resolution. Acting President Han Duck-soo has prioritised engaging with senior Trump officials to minimise disruption to South Korea's export-driven economy.

Choi said on Tuesday the initial goal is to delay implementation of the tariffs while longer-term solutions are negotiated. Bessent recently said allies like South Korea could benefit from a "first mover advantage" by reaching an agreement in principle soon.

White House Press Secretary Karoline Leavitt added that the administration is reviewing more than 15 proposals and hinted that some deals may be finalised shortly.

The U.S. Treasury Department encouraged Choi to use the G20 sidelines to engage directly with Bessent, as both sides weigh options to shield businesses from the fallout of the new trade regime.

Copied