U.S. Treasury Reports Positive Start to Trade Talks with Japan and South Korea

U.S. Treasury Secretary Scott Bessent expressed optimism after "productive" early-stage trade discussions with Japan and South Korea, according to a Treasury statement released Friday.

Following a bilateral meeting in Washington with Japanese Finance Minister Katsunobu Kato, Bessent "welcomed the strong start" to trade talks between the two countries, signaling a commitment to deeper economic cooperation.

Talks with South Korea also showed progress. Bessent, along with U.S. Trade Representative Jamieson Greer, met South Korean Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun on Thursday. The meetings focused on establishing a "new equilibrium" designed to promote rather than restrict trade between the allies.

The Treasury emphasized that Bessent was encouraged by the discussions’ emphasis on expanding trade opportunities and welcomed South Korea’s "fast and positive engagement" on tariff negotiations. Officials also agreed to continue productive dialogue, including talks on currency policy.

The meetings occurred during the Institute of International Finance (IIF) Global Outlook Forum, held on the sidelines of the IMF and World Bank’s 2025 Spring Meetings in Washington, D.C.

Both Japan and South Korea are critical trade partners for the United States, and the Treasury’s statements suggest a growing effort to strengthen alliances amid shifting global trade dynamics.