Trump says tariff talks won't be finished as deadline approaches

Washington, July 30 (IANS) US President Donald Trump has said tariff negotiations will not be finished the following day, as he responded to a question about ongoing trade talks with South Korea.

Trump made the remarks during a press availability after returning from Scotland, as South Korean negotiators are striving to reach a trade deal with his administration before Friday, when his "reciprocal" tariffs, including 25 percent duties on Korea, are set to take effect unless a deal is reached, reports Yonhap news agency.

"(Negotiations) won't be finished tomorrow, but our country is becoming very rich, and that's what we want," Trump told reporters, according to a White House pool report.

"We have to have a rich America. We're taking in a lot of money. We're becoming very strong and very rich," he added.

He was answering a reporter's question about whether tariff talks with South Korea will be finished by Wednesday.

But it remains unclear whether he was referring to the overall tariff negotiations with a series of trading partners or commenting specifically on talks with South Korean negotiators.

Earlier in the day, The Wall Street Journal reported that Commerce Secretary Howard Lutnick had urged Korean negotiators to bring their "best and final" trade offer to the negotiating table -- an apparent call for the Asian ally to make concessions to reach a deal.

Trump has said that his administration will have most of its trade deals with countries finished by August 1, as South Korea and other trading partners are striving to reach agreements to lower its "reciprocal" tariff rates by the negotiation deadline. "August 1 is going to come, and we will have most of our deals finished, if not all," Trump had told reporters before embarking on a trip to Scotland.

Meanwhile, he said the 10-day "deadline" for Moscow to end the conflict with Ukraine is in effect, cutting short the 50-day timeline he announced two weeks ago. Russia has "10 days from today" to reach a ceasefire agreement, Trump told reporters on his flight back to Washington following his visit to Scotland. Otherwise, "We're going to put on tariffs and stuff," he added.

On July 14, Trump threatened Russia with "severe tariffs" unless it agrees to a ceasefire with Ukraine within 50 days.

—IANS

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