U.S. Treasury Secretary’s Trade Talks with Japan and South Korea

WASHINGTON (Reuters) – U.S. Treasury Secretary Scott Bessent was encouraged by “productive” early trade talks with Japan and South Korea this week, the Treasury said in a statement on Friday.

In a readout issued a day after the bilateral meeting in Washington with Japanese Finance Minister Katsunobu Kato, the Treasury said Bessent “welcomed the strong start the two countries have made to bilateral trade discussions.”

The Treasury also stated that tariff negotiations on Thursday with South Korea were aimed at finding a new equilibrium that encourages more trade between the two allies rather than restricting it.

During a Thursday meeting between Bessent, U.S. Trade Representative Jamieson Greer, South Korean Finance Minister Choi Sang-mok, and South Korean Trade Minister Ahn Duk-geun, the officials agreed to “further productive discussions, including on currency policy,” the Treasury reported in a separate statement.

“Secretary Bessent was encouraged by their discussions’ focus on an expanded equilibrium which encourages rather than restricts trade,” the Treasury noted, adding that he welcomed South Korea’s “fast and positive engagement” with the U.S. on tariffs.