Trade minister to visit U.S. over weekend for trade talks

SEOUL, July 3 (Yonhap) -- South Korea's chief trade negotiator is arranging a visit to Washington this weekend as part of efforts to speed up trade talks with the United States, Seoul's trade ministry said Thursday, as the deadline for resumption of the Donald Trump administration's reciprocal tariffs approaches.

Trade Minister Yeo Han-koo is pushing to arrange meetings with U.S. Trade Representative (USTR) Jamieson Greer, Commerce Secretary Howard Lutnick and other officials in Washington, according to the Ministry of Trade, Industry and Energy.

If materialized, it will mark Yeo's second visit to the U.S. capital since he took office last month.

He held talks with Greer and Lutnick last week to highlight Seoul's commitment to "good-faith" trade talks with the Trump administration.

Seoul has been holding trade consultations with Washington on various trade issues, including tariffs and non-tariff measures, as well as industrial cooperation, with an aim to craft a deal by next Tuesday, when the 90-day pause on U.S. reciprocal tariffs, including 25 percent duties for South Korea, will end.

Despite such efforts, Seoul's trade negotiations with the U.S. have been lagging behind due to an earlier leadership vacuum caused by the impeachment of former President Yoon Suk Yeol following his failed martial law bid in December.

Earlier in the day, Yeo presided over a meeting attended by officials from related ministries to review the country's strategy for its tariff negotiations with the U.S., which he is set to report to the National Assembly on Friday.

"With the U.S. tariff suspension nearing an end, the outlook for the path of U.S. tariff policies, including whether the suspension will be extended, remains highly uncertain and unpredictable," Yeo said.

Yeo said the government will do its "utmost" to minimize the negative impact from U.S. tariffs on Korean companies, noting the possibility of the Trump administration imposing additional duties after the reciprocal tariffs resume next week cannot be ruled out.

"We will do our best to ensure that Korea is not put at a disadvantage compared to its peers as major countries are actively engaging in last-minute negotiations with the U.S.," he added, vowing preparations for all possible scenarios.

nyway@yna.co.kr
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