The two sides will reschedule the meeting between Treasury Secretary Scott Bessent and South Korean Finance Minister Koo Yun-cheol, as well as the top trade envoys of both countries, as soon as possible,

Trade negotiations between South Korea and the U.S. have been delayed due to a scheduling conflict with the U.S. Treasury Secretary. As South Korea exhaustively attempts to create concessions to avoid significant tariffs,

Automakers like Hyundai and Kia are facing a significant impact if South Korea doesn’t secure a trade deal with the U.S. by August 1.