Korea-U.S. Tariff Negotiations to be Pursued in '2+2' Format... "Announcement Expected Soon"

Possibility of Tariff Negotiations on the 24th-25th of This Month↑

The Korea-U.S. tariff negotiations scheduled to open this week are expected to be pursued in a '2+2' format. This format is a high-level negotiation method in which the finance and trade ministers of both countries participate simultaneously.

Minister Ahn Deok-geun appeared on KBS Sunday Diagnosis on the morning of the 20th and answered the question of whether the Korea-U.S. high-level trade negotiations could be held in a '2+2' format, saying, "I think it will be confirmed and announced within a few hours." The Korean and U.S. governments are pushing for high-level negotiations involving the finance and trade ministers of both countries in Washington, D.C., around the 24th-25th.

If this format is confirmed, from the U.S. side, Scott Besant, the Treasury Secretary who has recently taken the lead in trade negotiations, and Jamison Greer, the U.S. Trade Representative (USTR) responsible for trade policy formulation and negotiations, are likely to participate. From the Korean side, Choi Sang-mok, the Deputy Prime Minister and Minister of Economy and Finance, who is the economic commander, and Ahn Deok-geun, the Minister of Trade, Industry and Energy, who is the trade chief, are likely to participate.

Deputy Prime Minister Choi planned to meet separately with U.S. Treasury Secretary Scott Besant at the request of the U.S. side to discuss bilateral issues, including trade issues. This was to coincide with his visit to Washington, D.C., to attend the G20 Finance Ministers' Meeting.

Minister Ahn is also coordinating a schedule to visit Washington, D.C., around the 24th to meet with high-ranking officials such as Jamison Greer, the USTR representative, and Howard Lutnick, the Secretary of Commerce, to negotiate U.S. tariff adjustments on Korea.

Initially, there was also a plan for Deputy Prime Minister Choi and Minister Ahn to conduct separate consultations with the U.S. side, but at the request of the U.S. side, a consultation method was prepared in which the finance and trade ministers gather in one place. There is also talk of the possibility of Howard Lutnick, the Secretary of Commerce, who is involved in U.S. trade policy, participating, and if Secretary Lutnick participates, it could become a '2(Korea)+3(U.S.)' format meeting.

Our government is preparing for negotiations with the U.S. with a plan to propose a 'package' that includes efforts to pursue trade balance and eliminate non-tariff barriers, aiming to minimize tariff burdens on specific items such as automobiles, steel, and semiconductors.

Reporter Park Soo-bin, Hankyung.com waterbean@hankyung.com