On July 29 (local time), U.S. President Donald Trump stated that tariff negotiations may not conclude easily. It is unclear whether he was specifically referring to negotiations with South Korea. However, with the implementation of a 25% tariff approaching, it appears that last-minute negotiations may not proceed smoothly.
According to the White House press pool, President Trump was asked on his way back to the White House from Washington, D.C., after returning from Scotland, whether he would conclude tariff negotiations with South Korea the next day.
In a situation where several reporters were shouting questions, President Trump did not hear the question clearly and asked, "What is supposed to be concluded tomorrow?"
When the reporter clarified, "Tariffs," President Trump responded, "The tariffs will not be concluded tomorrow. However, our country is becoming very wealthy, and that is what we want." He added, "We need to have a wealthy America. We are bringing in a lot of money. We are becoming very strong and very wealthy."
It is difficult to determine whether President Trump was making a general statement about tariff negotiations overall or was referring specifically to the ongoing tariff negotiations with South Korea. South Korea is currently facing a situation where, unlike major countries such as the European Union (EU), Japan, and the United Kingdom, which have reached trade agreements with the United States, it must conclude negotiations by August 1, when the 25% mutual tariff suspension measure ends.
Meanwhile, on the same day, the Wall Street Journal (WSJ) reported that U.S. Secretary of Commerce Howard Lutnick recently met with South Korean officials, including Minister of Trade, Industry and Energy Kim Jeonggwan, in Scotland and urged them to bring their best and final trade proposal.
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