U.S. Treasury Secretary Scott Bessent has called on his country’s allies to strengthen their commitments to what he called “shared defense” in return for security guarantees and open markets from the U.S. 

Bessent delivered the remarks Wednesday during a forum ahead of the “two-plus-two” talks, set for Thursday in Washington for the top finance and trade officials from South Korea and the U.S.

At the forum, hosted by the Institute of International Finance, the treasury secretary said that if the United States continues to offer security guarantees and open markets, its allies must step up with stronger commitments to shared defense. 

Bessent stressed that global economic relationships should reflect security partnerships, saying security partners are more likely to have compatible economies structured for mutually beneficial trade. 

The remarks come as Bessent and U.S. Trade Representative Jamieson Greer are set to join South Korean Finance Minister Choi Sang-mok and Trade, Industry and Energy Minister Ahn Duk-geun for “two-plus-two” trade consultations at 9 p.m. Thursday, Korea Standard Time.