Washington: U.S. President Donald Trump has announced that ongoing tariff discussions with numerous countries are expected to conclude "over the next three to four weeks." Trump claims to have finalized 200 deals as various nations, including South Korea, seek exemptions from his administration's "reciprocal" and sectoral tariffs.
According to Yonhap News Agency, Trump made these remarks during an interview with TIME, which was released on Friday. His comments came a day after high-level trade talks between Seoul and Washington, where a broad framework for future negotiations on tariffs and economic cooperation was established.
"I would say, over the next three to four weeks, and we're finished, by the way," Trump stated, as per a transcript on the magazine's website. He further indicated that some countries might seek adjustments, which he would consider, but emphasized that the bulk of the negotiations would soon be complete.
Trump highlighted that his administration has completed 200 deals "100 percent," although specifics were not provided. His statements suggest that the tariff negotiations could wrap up before the July 8 deadline, marking the end of a 90-day pause on reciprocal tariffs that began on April 9.
The reciprocal tariffs, including 25 percent duties on South Korea, were initially imposed before being paused to facilitate negotiations. During Thursday's talks, the U.S. and South Korea agreed on joint efforts to develop a "package" agreement on tariffs and other related issues by the July deadline.
In the interview, Trump also addressed U.S. defense spending for allies, noting that his administration spends "billions of dollars" on defending South Korea and others. He clarified that defense cost discussions would remain separate from trade negotiations.
Trump questioned the fairness of the current system, considering factors like VAT systems and existing tariffs, as he aims to determine a "fair price of tariffs for different countries." The interview took place at the White House, where Trump reiterated his commitment to setting tariffs based on comprehensive statistics and assessments.