South Korean President Lee Jae Myung says that it remains unclear whether Seoul and Washington can conclude their tariff negotiations by next week’s deadline set by President Donald Trump

South Korea ’s parliament approved a 31.8 trillion won (US$23.3 billion) extra budget as new President Lee Jae-myung seeks to revive an economy struggling with weak consumption and mounting trade risks from US tariffs.

This week, Trump unveiled the Vietnam deal, which imposes a 20% tariff on Vietnamese exports and a 40% tariff on transshipped goods. Though lower than the initial 46%, the rates exceed the interim 10%. Vietnam, however, says negotiations are still ongoing.