South Korea said it planned to intensify trade talks with the United States and considered U.S. President Donald Trump's plan for a 25% tariff from August 1 as effectively extending a grace period on implementing reciprocal tariffs.

President Donald Trump announced on Monday that he is levying tariffs against South Korea and Japan beginning in August. Trump

The country’s new president, in office for a little over a month, had just dispatched his senior deputies to Washington to try to work out a trade deal.