Washington: U.S. President Donald Trump has asserted that South Korea is keen to finalize a trade agreement with the United States as Seoul seeks exemptions from the “reciprocal” and sectoral tariffs imposed by his administration. In an interview with Fox News, Trump emphasized that he will not be rushing into deals with all trading partners, despite many seeking to mitigate the effects of the new U.S. tariffs.

According to Yonhap News Agency, Trump mentioned that he is selective about the deals he chooses to finalize. “I am in no rush. Look, everybody wants to make a deal with us … South Korea wants to make a deal with us,” he stated. Trump further indicated that he would not be meeting with every interested party, setting limits on the number of deals he plans to negotiate. He claimed that around 150 countries are currently interested in forming trade agreements with the United States.

Bilateral talks between Seoul and Washington are ongoing, concentrating on four major areas: tariff and non-tariff measures, economic security, investment cooperation, and currency policy. South Korea is working towards a “July package” deal with the Trump administration, aiming to conclude negotiations before July 8, when Trump’s 90-day pause on reciprocal tariffs comes to an end.

The reciprocal tariffs, which include a 25 percent duty on South Korean imports, were implemented on April 9. However, Trump temporarily halted these tariffs to provide a window for negotiations.