Sudden Cancellation of High-Level Korea-US Talks... 'Unexpected Variable' Shakes Negotiations

[Financial News] The 'Korea-US 2+2 Trade Talks' scheduled to be held on the 25th (local time) in Washington D.C., USA, was suddenly canceled. Due to circumstances on the US side, the high-level talks were abruptly canceled, creating an unexpected variable in negotiations ahead of the US's imposition of reciprocal tariffs (25%) scheduled for August 1.
 The Ministry of Economy and Finance announced on the 24th that “the talks will not be held due to the urgent schedule of US Treasury Secretary Scott Besant.” It added, "Both Korea and the US plan to coordinate a new schedule as soon as possible to arrange the talks at the earliest possible date."
 Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol, who was about to depart from Incheon International Airport at 10:25 AM on the same day to attend the talks, turned back after receiving this information on site.
 It was confirmed that the US side conveyed the necessity of postponing the talks via email at 9 AM (Korean time) on the same day.
 According to the Ministry of Economy and Finance, the US side mentioned the expression "sorry" several times in the email and proposed to coordinate a new schedule soon.
 The 'Korea-US 2+2' meeting is a high-level consultation channel formed after President Trump announced the imposition of reciprocal tariffs, where the financial and trade heads of both countries directly participate.
 Initially, Deputy Prime Minister Koo planned to hold talks with US Treasury Secretary Scott Besant and USTR representative Jamison Greer in Washington on the 25th, along with Yeo Han-gu, Head of Trade Negotiations at the Ministry of Trade, Industry and Energy, to discuss tariff reductions, trade imbalance alleviation, and industrial cooperation expansion.
 This meeting was noted as the last high-level negotiation before the US's imposition of the 25% reciprocal tariff on Korea, scheduled to take effect on August 1.
However, separate from the cancellation of the high-level 2+2 talks, negotiations led by the Ministry of Trade, Industry and Energy will proceed as planned.
 Minister of Trade, Industry and Energy Kim Jeong-gwan and Director Yeo plan to meet with Secretary of Commerce Howard Lutnick, USTR representative Greer, Secretary of Energy Chris Wright, and Chairman of the National Energy Committee Doug Burkham to discuss reciprocal tariffs, item tariffs, and bilateral energy cooperation.
 Meanwhile, the US has officially stated its position to enforce the reciprocal tariffs, which have been postponed twice, from August 1. With the talks canceled just a week before the negotiation deadline, coordinating future schedules has emerged as the biggest variable in the negotiations.

spring@fnnews.com Reporter Lee Bomi