A South Korean delegation led by Trade Minister Yeo Han-koo is on an indefinite visit to Washington for last-ditch negotiations with the Trump administration to extend the U.S. reciprocal tariff deferment, which is set to expire after Tuesday.

According to Seoul's trade ministry, Yeo is expected to meet with U.S. Trade Representative Jamieson Greer as early as Saturday, where he plans to stress the need for a win-win deal that could create a “renaissance partnership” between the two countries’ manufacturing sectors.

The minister also intends to make a proposition addressing Washington's demands for Seoul to remove nontariff barriers and achieve a trade balance between the two sides.

Speaking to local reporters before departing, Yeo emphasized that securing more time in the negotiations would be in South Korea's best interests.

Meanwhile, aboard Air Force One, U.S. President Donald Trump said he had signed letters to 12 countries regarding their reciprocal tariff rates, which will be sent out on Monday, with most set to take effect on August 1.