South Korea and the United States agreed to craft a trade package aimed at removing new U.S. tariffs before the pause on reciprocal tariffs is lifted in July, Seoul's delegation in Washington said after a first round of trade talks.

US Treasury chief Scott Bessent says talks are ‘moving faster than I thought’, and technical terms could be discussed as early as next week.

U.S. Treasury Secretary Scott Bessent was encouraged by "productive" early trade talks with Japan and South Korea this week, the Treasury said in a statement on Friday. In a readout issued a day after the bilateral meeting in Washington with Japanese Finance Minister Katsunobu Kato,