Seoul: A senior Seoul official said Friday that it is still uncertain whether U.S. President Donald Trump's pause on "reciprocal" tariffs on South Korea will be extended next month, as the Asian country has highlighted its commitment to "good-faith" trade talks with the United States.
According to Yonhap News Agency, the official made the remarks although the Trump administration has signaled an openness to extending the pause on the new tariffs, which is slated to end on July 8. The tariffs, including 25 percent duties on South Korea, took effect on April 9, but Trump suspended them until July 8 to allow for negotiations.
"I don't think we are now in a situation where we can feel assured. It is still not certain as to the degree of possibility that the Trump administration will extend the pause for all countries and continue negotiations when the July 8 deadline comes," the official told reporters in Washington.
"Some countries could perhaps reach a deal (with the United States). The pause could be extended for some others, while others could face higher tariffs with the pause not extended for them. So it seems that various possibilities remain open," he added.
Earlier in the day, Trump said that he would like to make the pause "shorter," though he still reiterated the possibility of its extension.
The official anticipated that the pause could be extended for countries that Washington thinks have demonstrated "good faith" in trade talks, while those that are deemed to have shown a lack of good faith could face some form of penalty.
"It is true that there has not been much progress in the trade talks (between Korea and the U.S.) due to the domestic political environment, compared with other countries," he said. "There is still time left -- though it's less than two weeks (until July 8) -- and I understand that President Trump will make the final decision."
He was referring to a period of political turmoil in Seoul, which was caused in the aftermath of ousted former President Yoon Suk Yeol's short-lived martial law declaration in December.
Less than two weeks into office, Seoul's Trade Minister Yeo Han-koo visited Washington this week and held talks with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer to discuss tariffs and other related issues.
Also this week, the South Korean working-level delegation, led by Deputy Minister for International Trade and Investment Park Jung-sung, had the third round of "technical discussions" with the U.S. on tariffs and other topics.
South Korea's Ministry of Trade, Industry and Energy said in a release Saturday (Korean time) that Yeo's trip to Washington marked the first high-level trade engagement with the U.S. since the launch of Seoul's Lee Jae Myung administration and was intended to reaffirm the government's commitment to strengthening the South Korea-U.S. alliance through complementary cooperation.
It added that the Seoul trade delegation emphasized Seoul's willingness to approach negotiations in good faith to achieve a "mutually beneficial deal" for both countries.
During a press briefing held earlier in the day in Washington, Yeo vowed to make utmost efforts to reach a "mutually beneficial" trade agreement with the U.S.
"During my stay here, I have demonstrated South Korea's good faith and intention to make a mutually beneficial deal through South Korea-U.S. trade talks," Yeo said, noting that he had more than 30 meetings with U.S. government, congressional and other officials in the U.S. capital this week.
During the talks with U.S. officials, Yeo stressed trade talks should deal with all reciprocal and sectoral tariffs, including those that the Trump administration is considering rolling out in the future.
Seoul has been seeking exemptions from reciprocal tariffs and new duties on steel, aluminum and automobiles.
The minister cast the ongoing trade talks as an opportunity for Seoul and Washington to build a new framework for strategic cooperation in various areas, including artificial intelligence, semiconductor, shipbuilding, electric vehicles and nuclear energy.