The government said that it views the letter from U.S. President Donald Trump notifying a 25 percent reciprocal tariff on South Korean imports as an effective extension of the pause on the new tariffs, and pledged to step up efforts in negotiations with the U.S. 

The Ministry of Trade, Industry and Energy issued the statement in a press release on Tuesday, shortly after Trump published the letter on his social media platform, Truth Social.

In the letter, Trump said that the U.S. will impose a 25 percent tariff on all South Korean products entering the country starting August 1. 

The ministry said that since the launch of the Lee Jae Myung administration, the government has engaged in intense negotiations based on the principle of putting national interest first, but there had not been enough time to reach agreements on all pending issues. 

It added that in the remaining period until August 1, the government will step up efforts to reach a mutually beneficial agreement and swiftly resolve uncertainties stemming from tariffs. 

The ministry also noted that South Korea will work to address the U.S. concern over the trade deficit by improving domestic rules and regulations.

It added that the government will seek to use this as an opportunity to advance key industries through manufacturing cooperation between the two countries.