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Trump says he’ll hear Korea’s 'offer to buy down' reciprocal tariffs before Aug. 1 deadline

Published: 31 Jul. 2025, 06:47 Updated: 31 Jul. 2025, 10:46

JIN MIN-JI
[email protected]

President Donald Trump listens during a news conference with India's Prime Minister Narendra Modi in the East Room of the White House, Feb. 13, 2025, in Washington. [AP/YONHAP]

U.S. President Donald Trump said he will meet with a Korean trade delegation in the afternoon to hear their “offer to buy down” the proposed 25 percent reciprocal tariffs.

“South Korea is right now at a 25% Tariff, but they have an offer to buy down those Tariffs. I will be interested in hearing what that offer is,” he wrote on his social media post on Wednesday as Korean negotiators are working to finalize the trade deal ahead of the looming negotiation deadline on Aug. 1.

Korea’s presidential office confirmed that U.S. President Donald Trump would meet with the Korean trade delegation on the same day. It stated that an “emergency briefing” could be held, depending on the outcome of the talks.

Finance Minister Koo Yun-cheol held talks with U.S. Commerce Secretary Howard Lutnick in Washington for the second consecutive day on Wednesday.

The talks took place for an hour at 11 a.m. on the day.

Also at the negotiating table were Korea’s Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo.

Lutnick had urged Korean negotiators to bring their “best and final” trade offer, according to a Wall Street Journal report on Tuesday.

Koo and U.S. Treasury Secretary Scott Bessent are scheduled to hold tariff talks Thursday morning.

BY JIN MIN-JI [[email protected]]