U.S. Trade Talks With South Korea Planned Next Week

U.S. Treasury Secretary Scott Bessent announced that trade negotiations with South Korea will take place next week, following discussions with Vietnam and Japan. He emphasized the 'first mover advantage,' suggesting that countries that negotiate early could secure more favorable agreements. Bessent indicated that the Trump administration is working quickly to establish agreements in principle before the 90-day tariff pause expires, although he acknowledged that these may not be full trade documents. He anticipates that several countries will reach preliminary agreements soon, despite Japan's Prime Minister stating that he won't rush negotiations. The Secretary highlighted the complexity of addressing non-tariff trade barriers, which he deemed more challenging than tariffs. Bessent's remarks suggest a strategic push to finalize negotiations efficiently amid rising global economic pressures.