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South Korea to intensify talks as US sets Aug. 1 tariff deadline

( July 8, 2025, 00:51 GMT | Official Statement) -- MLex Summary: South Korea said today it will ramp up negotiations with the US after President Donald Trump conveyed in a letter his plans to impose 25 percent "reciprocal" tariffs on South Korean goods starting Aug. 1. The Ministry of Trade, Industry and Energy said it had pushed for a deal during the short window since the new administration took office but acknowledged that more time was needed to resolve outstanding issues. Officials view the latest US notice as effectively extending the grace period and are aiming to reach a mutually beneficial outcome before the deadline. The government also plans to convene an emergency meeting to assess the impact on domestic industries.The statement, in Korean, is attached....

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