U.S. more concerned with getting 'high-quality' trade deals than meeting Aug. 1 deadline: Bessent

U.S. Treasury Secretary Scott Bessent has said the Trump administration is more concerned with getting "high-quality" deals with trading partners than meeting the August 1st trade deadline.

Lee Seung-jae has more.

The Trump administration is more concerned with getting "high-quality" trade deals rather than meeting the August 1st tariff deadline.

This, according to U.S. Treasury Secretary Scott Bessent, who stressed Washington will not rush into any deal.

During a CNBC interview on Monday, Bessent said that the administration is seeking "high-quality deals," adding that their trading partners were told that the rates could "boomerang back" toward the April 2nd levels.

He added that Washington is not going to rush "for the sake of doing deals."

The comments come as trading partners such as South Korea, Japan, and others look to make deals before the August 1st deadline, when the Trump administration's steep reciprocal tariffs are set to take effect.

On April 2nd,.. U.S. President Donald Trump announced the reciprocal tariffs, which took effect on April 9th.

However, he paused them that same day for 90 days to allow for negotiations, and later extended the pause to August 1st.

When asked whether the deadline could be extended again, Bessent hinted that even if the tariffs go into effect next month, negotiations could continue.

Meanwhile, with the deadline looming, South Korea's National Security Advisor Wi Sung-lac is in the U.S. to engage in high-level trade talks to accelerate tariff negotiations.

Wi said earlier that Seoul had proposed a "package deal" encompassing economic and security considerations in the trade negotiations.

Also, to advance trade negotiations, Wi said he proposed that President Lee Jae Myung hold a summit with Trump in the near future.

Seoul's newly appointed finance and foreign ministers are also expected to visit the U.S. soon to discuss pending issues.

Lee Seung-jae, Arirang News.