Scott Vessenet, the U.S. Secretary of the Treasury leading tariff negotiations, positively assessed the trade discussions held on the 25th (local time) to address tariff issues between South Korea and the United States.
According to a press release from the U.S. Treasury Department, Secretary Vessenet noted on the previous day’s trade discussions, “I am encouraged that the focus of the discussions between the two countries was on expanding balance,” adding, “This is about promoting trade rather than restricting it.”
On the previous day, the two countries held a 2+2 trade conference in Washington, D.C., attended by Deputy Prime Minister Choi Sang-mok and Minister of Economy and Finance, Minister of Trade, Industry and Energy Ahn Duk-geun, Secretary Vessenet, and U.S. Trade Representative Jamison Greer.
Secretary Vessenet also expressed approval of South Korea's swift and positive trade-related discussions with the U.S. following a call on the 8th between President Donald Trump and Acting Prime Minister Han Duck-soo.
Secretary Vessenet expressed gratitude for Deputy Prime Minister Choi and Minister Ahn's efforts to reduce trade barriers and increase South Korea's investment in the U.S. to balance the bilateral relationship.
During the trade discussions, Secretary Vessenet and Deputy Prime Minister Choi reaffirmed the strong bilateral relationship between South Korea and the United States and agreed to engage in further productive discussions, including on exchange rate policy.