U.S. President Donald Trump has said that tariff negotiations, including those with South Korea, are unlikely to be completed by Wednesday, just days ahead of the August 1 deadline he set for new trade deals.

Speaking to reporters upon returning from Scotland, Trump indicated that while talks are progressing, they will not be finalized the following day. “(Negotiations) won’t be finished tomorrow, but our country is becoming very rich, and that’s what we want,” Trump said, according to a White House pool report.

His remarks come as South Korean negotiators race to strike a trade agreement before Trump’s proposed “reciprocal” tariffs — including a 25 percent duty on Korean imports — are scheduled to take effect Friday.

It remains unclear whether Trump was referencing South Korea specifically or making a broader comment on multiple trade negotiations underway. However, The Wall Street Journal earlier reported that U.S. Commerce Secretary Howard Lutnick had urged South Korea to submit its “best and final” offer to avoid tariffs.

Trump had previously said he expected most trade deals to be completed by August 1. “August 1 is going to come, and we will have most of our deals finished, if not all,” he stated earlier this month.

In a separate development, Trump reiterated his shortened timeline for Russia to agree to a ceasefire in Ukraine, reducing his original 50-day deadline to just 10 days. “Russia has 10 days from today to reach a ceasefire agreement,” he warned, threatening further tariffs if Moscow fails to comply.

The shift in deadlines and aggressive tariff posture signal Trump’s renewed push to reshape U.S. trade relations and exert pressure on foreign governments.