The United States is set to begin trade negotiations with South Korea next week, according to Treasury Secretary Scott Bessent, who emphasized the strategic value of being a “first mover” in trade talks as countries scramble to minimize the impact of President Donald Trump’s new tariff policies.

In an interview with Bloomberg, Bessent outlined upcoming negotiations with South Korea and Japan, following recent meetings with Vietnamese officials. The US has imposed steep “reciprocal” tariffs on several allies, including South Korea and Japan, but granted a 90-day pause to allow for negotiations.

“We had Vietnam in last week. We [have] Japanese in on Wednesday… South Korea next week,” Bessent said. “So it’s going to move fast.”

He underscored the potential advantage for countries that engage early. “Usually, the first person who makes a deal gets the best deal,” Bessent said. Japanese Prime Minister Shigeru Ishiba has taken a cautious approach, indicating Japan would not rush talks at the expense of its interests.

When asked which country might strike the first agreement, Bessent said, “It’s their choice,” adding that several countries could reach an agreement in principle before the 90-day deadline expires. These may not be finalized trade agreements but could serve as the foundation for formal negotiations.

Bessent’s comments come amid speculation that the Trump administration may pursue ad hoc agreements or written commitments on “fair and reciprocal” trade instead of fully developed trade deals, due to time constraints.

The Wall Street Journal also reported that Bessent is prioritizing trade deals with South Korea, the United Kingdom, Australia, India, and Japan. The report said Bessent has been in active contact with officials from these countries.