President Donald Trump on Wednesday announced that the United States has reached a new trade agreement with Vietnam that includes a 20% tariff on all imports from the Southeast Asian nation and a steeper 40% tariff on goods transshipped through Vietnam from other countries.

The United States will place a lower-than-promised tariff on many Vietnamese exports, Donald Trump said, cooling tensions with its tenth-biggest trading partner days before the U.S. president could raise levies on most imports.

South Korean President Lee Jae Myung said Thursday that the country is working hard to strike a trade deal with the United States on impending tariffs but expressed uncertainty about when talks would be concluded.

President Lee Jae Myung expressed uncertainty about concluding tariff talks with the U.S. by the July 8 deadline, emphasized the need for inter-Korean dialogue, and aims to improve relations with Japan while addressing historic issues.

President Lee Jae Myung said on Thursday the government has made utmost efforts on tariff negotiations with the United States, but he can't say whether the talks could be concluded by July 8, a deadline set by US President Donald Trump.