While the US tells South Korea to "bring the best proposal"... It says to China "Talks went well"

The United States government urged South Korea on the 29th to present its final proposal regarding trade negotiations. On the same day, President Donald Trump stated that the third high-level trade talks with China “went well,” hinting at the possibility of meeting with President Xi Jinping.

According to the US daily The Wall Street Journal (WSJ), Secretary Howard Lutnick recently urged South Korean government officials to “put the best, final trade proposal on the table” regarding tariff negotiations, citing sources.

Reportedly, Secretary Lutnick made the remarks during a meeting with South Korean officials recently held in Scotland. He also emphasized to bring “everything to the table” when presenting the final proposal to President Trump.

Additionally, Secretary Lutnick repeatedly demanded that South Korean officials “must convince President Trump why a new agreement with South Korea is needed when he has already signed numerous trade agreements with major partners such as the European Union (EU), Japan, and the United Kingdom,” the outlet stated.

Secretary Lutnick had previously revealed to Fox News that, a day before, he had met with Minister Kim Jung-kwan of the Ministry of Trade, Industry and Energy and Trade Negotiation Head Yeo Han-gu in Scotland. Minister Kim and Director General Yeo held two rounds of negotiations with Secretary Lutnick on the 24th and 25th. On the 24th, they met in Washington, D.C., and on the 25th, they visited his New York residence.

The WSJ noted, “The South Korean government's engagement with Trump administration officials reflects its urgency to wrap up negotiations before the 25% tariffs are imposed on August 1.”

On the same day, President Trump, during his flight back from Scotland to Washington, revealed that he had received a call from Treasury Secretary Scott Besant, who attended the trade talks with China, and said, “He told me the meeting with China went very well.”

However, President Trump added, “The negotiating teams will report to me tomorrow, and I’ll decide whether to approve (the agreement) or not.” He also mentioned that he and President Xi want to meet each other, projecting that a meeting would likely happen “before the end of this year.”

Previously, US Treasury Secretary Besant, USTR Representative Jamison Greer, and Chinese Vice Premier He Lifeng, as high-level negotiators from both countries, met from the previous day through today in Stockholm, Sweden, and discussed an extension of the tariff suspension set to expire on the 11th of next month, among other matters.

Li Chenggang, Deputy Minister and International Trade Negotiator of the Chinese Ministry of Commerce and a member of the Chinese delegation, told the state-run Xinhua News Agency, “According to the consensus reached by China and the US, both countries have agreed to push for continued suspension of US tariffs of 24% and China’s countermeasures,” and “there were in-depth, frank, and constructive discussions on significant agenda items of mutual concern.”

Deputy Minister Li added, “The economic and trade teams of both countries will maintain close communication and exchange views on economic and trade issues in a timely manner,” and “will continue to promote the stable and healthy development of the bilateral economic and trade relationship.”

However, US USTR Representative Greer stated at a local press conference, “We will return to Washington, D.C., and discuss with President Trump whether what the US-China negotiating teams have tentatively agreed to is acceptable,” adding, “Negotiations are still ongoing.”

Secretary Besant also said that discussions between both parties would continue and that President Trump would make the final decision on whether to approve. He emphasized, “Nothing is agreed upon until President Trump and we discuss it,” and if President Trump does not approve, tariffs against China could revert to the April 2 level of 34% or be set separately.

The United States also stated that a 90-day extension of the ‘tariff truce’ is currently one of the options under discussion, and that the two countries could hold further talks within the next 90 days.

Hong Min-seong, Hankyung.com reporter mshong@hankyung.com