US President Donald Trump said Monday his administration expects to set tariffs somewhere in the range of 15 percent to 20 percent for most countries that have yet to reach a trade deal with it, as South Korea is striving to strike a deal before the negotiation deadline this week.
Trump made the remarks during a meeting with British Prime Minister Keir Starmer in Turnberry, Scotland, as his administration's "reciprocal" tariffs, including 25 percent duties on South Korea, are set to go into force on Friday unless a deal is reached.
"I would say it'll be somewhere in the 15-20 percent range ... I just want to be nice," he said during a press availability, sitting next to Starmer.
He added, "Probably one of those two numbers."
The Trump administration has so far reached bilateral trade deals with Britain, the European Union, Japan, Vietnam, Indonesia and the Philippines, while other countries, including South Korea, are seeking to clinch a deal to reduce their proposed reciprocal tariffs.
Senior South Korean officials have been cranking up their negotiation efforts as they traveled or are planning to travel to Washington.
Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo had trade talks with US Commerce Secretary Howard Lutnick in Washington on Thursday and in New York the following day. The two then departed for Europe apparently to continue negotiations, sources said, as key US trade negotiators accompanied Trump during a trip to Scotland.
In the hopes of finding a breakthrough, Seoul officials have proposed a large-scale investment initiative, dubbed "Make American Shipbuilding Great Again," as the Trump administration seeks to rebuild America's shipbuilding industry in the face of China's overwhelming shipbuilding capacity.
Finance Minister Koo Yun-cheol is set to have consultations with US Treasury Secretary Scott Bessent in Washington on Thursday, while Foreign Minister Cho Hyun plans to visit the US capital for talks with Secretary of State Marco Rubio. (Yonhap)
