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.
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Two student pilots were killed when two single-engine training aircraft collided mid-air in southern Manitoba, Canadian authorities confirmed on Tuesday.
NATO Secretary General Mark Rutte is warning that major economies like Brazil, China, and India could face serious consequences if they continue trading with Russia, as the U.S. steps up pressure with fresh sanctions and weapons support for Ukraine.
The American leader stated that if an agreement between Russia and Ukraine is not achieved within that timeframe, "it will be very bad."
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Australian Prime Minister Anthony Albanese met with Chinese President Xi Jinping in Beijing, affirming that both countries will keep communication channels open and explore cooperation opportunities despite ongoing strategic rivalry in the Indo-Pacific region.
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