Trump Says Trade Talks With South Korea Won’t Conclude Immediately; Reaffirms Tariff Plans

US President Donald Trump has indicated that ongoing trade negotiations with South Korea will not conclude the following day, as efforts continue to strike a deal before looming tariff deadlines.

Speaking to reporters after his return from Scotland, Trump responded to a question about the status of the talks, stating, “(Negotiations) won’t be finished tomorrow, but our country is becoming very rich, and that’s what we want.”

He added, “We have to have a rich America. We’re taking in a lot of money. We’re becoming very strong and very rich.”

His comments coincide with South Korean negotiators rushing to finalise a trade agreement before Friday, as Trump’s ‘reciprocal’ tariff policy, including a proposed 25 per cent duty on Korean imports, is likely to take effect without a deal, according to Yonhap news agency.

Although reporters specifically questioned Trump about the South Korea negotiations, it remains unclear whether his remarks referred broadly to multiple ongoing trade talks or solely to the discussions with Seoul.

US Pressures Seoul for Concessions

Earlier the same day, ‘The Wall Street Journal’ reported that US Commerce Secretary Howard Lutnick urged South Korean officials to present their ‘best and final’ offer at the negotiation table, a signal that Washington is seeking further concessions to close the deal.

Trump previously said his administration aims to finalise most trade deals with various countries by 1 August.

“August 1 is going to come, and we will have most of our deals finished, if not all,” he stated before his Scotland trip.

Meanwhile, Trump also reaffirmed his revised 10-day deadline for Russia to reach a ceasefire agreement with Ukraine, replacing the 50-day timeline he had set earlier on 14 July.

“Russia has 10 days from today,” he told reporters on his return flight to Washington. “Otherwise, we’re going to put on tariffs and stuff,” he added.

The 10-day warning represents a sharp acceleration in pressure on Moscow, with Trump reiterating the possibility of ‘severe tariffs’ if Russia fails to agree to a ceasefire within the shortened period.

Also Read: Trump Sets New 10-Day Deadline For Russia Over Ukraine Conflict