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.
U.S. President Donald Trump has said he is not confident about reaching a trade agreement with Japan, warning that talks are unlikely to succeed befor...
During his visit to the migrant detention centre in the Florida Everglades, known as “Alligator Alcatraz,” U.S. President Donald Trump claimed tha...
Pakistan has assumed the presidency of the UN Security Council for the month of July, part of its current term as a non-permanent member that began in...
Israel’s defense minister Israel Katz issued a warning toward Yemen following a missile launch by Houthi forces....
A court in Baku has ordered four months of pre-trial detention for all eight Russian citizens accused of trafficking drugs from Iran....
U.S. President Donald Trump has said he is not confident about reaching a trade agreement with Japan, warning that talks are unlikely to succeed before the 9 July deadline.
During his visit to the migrant detention centre in the Florida Everglades, known as “Alligator Alcatraz,” U.S. President Donald Trump claimed that former president Joe Biden wanted him imprisoned there.
Pakistan has assumed the presidency of the UN Security Council for the month of July, part of its current term as a non-permanent member that began in January 2024.
Israel’s defense minister Israel Katz issued a warning toward Yemen following a missile launch by Houthi forces.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
Prices for goods made in China and sold on Amazon.com are rising at a pace faster than overall inflation, signaling the growing impact of U.S. tariffs on consumers, a new analysis by retail analytics firm DataWeave reveals.
U.S. Secretary of State Marco Rubio convened his counterparts from India, Japan, and Australia on Tuesday for a high-stakes meeting of the Indo-Pacific Quad, aiming to reaffirm the group's commitment to countering China’s influence in the region.
A U.S. federal judge on Tuesday rejected Huawei Technologies Co Ltd's request to dismiss the majority of charges in a sweeping indictment, allowing the Chinese telecoms giant to face trial over allegations of trade secret theft, bank fraud, and sanctions violations.
Denmark has expanded its military conscription to include women, aiming to recruit more soldiers and strengthen defence amid growing security concerns in Europe.
During his visit to the migrant detention centre in the Florida Everglades, known as “Alligator Alcatraz,” U.S. President Donald Trump claimed that former president Joe Biden wanted him imprisoned there.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment