Trade Minister Yeo Han-koo said the time has come for the country to make a decision, with fewer than 20 days left until the 25 percent reciprocal tariff takes effect on South Korean exports to the United States.

Yeo, who recently returned from a visit to Washington, said Monday that the talks are currently focused on establishing the “big framework,” rather than the details, due to lack of time.

The minister stressed the need for consultations within South Korea to set boundaries and decide how many of the U.S. requests to accept in the negotiations.

As Washington is determined to structurally reduce its trade deficit, Yeo said Seoul would have to consider increasing U.S. investment and product purchases, while easing regulations and systems that could work against American exports.

The minister also called for a strategic decision in the agricultural sector, with Washington reported to be demanding that Seoul lift its ban on imports of American beef from cattle aged 30 months or older, expand rice imports, and ease regulations against genetically modified produce.

The 25 percent tariff is set to take effect August 1.