South Korea is trying to secure a mutual trade package with President Donald Trump before August 1, when U.S. tariffs on Korean exports are set to snap back to 25%. The presidential office in Seoul said on Saturday that officials are preparing a deal they hope both countries can agree on ahead of minister-level meetings

The agreement that Japan secured has added pressure on South Korea to defuse the threat of high tariffs on its exports to the United States.

South Korea's top trade negotiators met with U.S. Commerce Secretary Howard Lutnick, with both sides reaffirming their intention to reach a tariff deal.