A critical trade negotiation delay between U.S. and Asian officials has raised concerns ahead of looming tariff deadlines. South Korea’s finance ministry confirmed the postponement of the 2+2 meeting due to scheduling issues with U.S. Treasury Secretary Scott Bessent. Finance Minister Koo Yun-cheol had prepared to fly to Washington before the announcement. The meeting was meant to prevent 25% U.S. tariffs on key export sectors. Both sides now aim to reschedule the talks urgently.
Minister Koo intended to finalize terms that could secure exemptions from heavy import duties. These tariffs threaten major industries, including automobiles and steel. The sudden trade negotiation delay puts pressure on both delegations. Observers fear the talks may not resume before the deadline. Businesses remain anxious as time continues to run out.
Analysts say it may now be impossible to hold the meeting before tariffs take effect. Trade Minister Yeo Han-koo may instead request an extension of current exemptions. He and Industry Minister Kim Jung-kwan are already in Washington. They continue meeting U.S. officials in hopes of achieving a breakthrough. This effort highlights the urgency of reaching a resolution.
The stock market reflected investor concerns following news of the trade negotiation delay. The KOSPI index lost early gains and closed barely higher. Automotive and parts stocks took a hit, with Hyundai Motor falling 2%. The market remains highly sensitive to signals from ongoing trade discussions. Any prolonged uncertainty could further shake investor confidence.
U.S. officials gave no clear reason for postponing the meeting. Washington is currently engaged in parallel talks with the European Union and China. Despite this, Korean officials remain in close contact with U.S. counterparts. Wi Sung-lac, South Korea’s top security adviser, spoke with senior U.S. figures. He clarified that no diplomatic snub occurred during the visit.
Trade Minister Yeo and his team continue their meetings with key U.S. agencies. The agenda includes talks with U.S. Trade Representative Jamieson Greer. Both governments are pushing to avoid new tariffs that could disrupt trade flows. The trade negotiation delay has introduced new uncertainty into already complex discussions. Officials now face an even tighter window for solutions.
