U.S. Treasury Secretary signals that U.S. may extend tariff pause for certain nations

America's trade partners including South Korea are now counting down less than one month to the end of the pause in reciprocal tariffs come early July and talk of a possible extension of the tariff relief for some countries has been floated around.

LEE Soo-jin reports.

The U.S. may extend tariff breaks for countries pursuing trade negotiations in "good faith."

Treasury Secretary Scott Bessent, who is leading U.S. trade talks, said in a congressional hearing on Wednesday that the U.S. might extend the 90-day pause on reciprocal tariffs for certain countries.

He mentioned that there were 18 important trading partners that the Trump administration is working towards reaching an agreement with.

But President Donald Trump also told reporters on Wednesday that while he was willing to extend the 90-day pause, he did not believe that it would be necessary.

He also revealed that the U.S. will send trade offer letters to dozens of countries within two weeks that they could either accept or decline.

The 90-day pause on reciprocal tariffs that were announced on April 9th is set to expire on July 9th.

This has led South Korea's newly elected administration to prioritize reaching a trade agreement with the U.S., with President Lee Jae-myung expressing a shared commitment to a deal during his first call with President Trump.

There are also expectations that the two leaders will continue discussions at next week's G7 summit in Canada.

Bessent's remarks come after the U.S. announced that it had reached a framework agreement with China during its second high-level trade talks held in London, though specific details have yet to be disclosed.

"Dozens of countries have engaged the administration thus far with offers to improve their trade relations with the United States. This includes China. I have just returned in the middle of last night from successful negotiations in London with a Chinese delegation, "

The Trump administration has so far announced a comprehensive agreement with the UK and a framework deal with China that serves as a stepping stone to eventually negotiate a full-fledged trade agreement.

And as it remains a framework deal, Bessent acknowledged that negotiations with China are likely to be a lengthy process, signaling that while key issues like Beijing's export controls on rare earths critical to advanced tech and defense were addressed, broader trade disputes remain.

But active negotiations, not just with China but other countries as well, are expected to continue, especially with the U.S. federal appeals court ruling on Tuesday that the tariffs can remain in effect until the court completes its full legal review.

Lee Soo-jin, Arirang News.