The United States said that "there is no trade deal" with South Korea until the country’s National Assembly ratifies it.

U.S. Treasury Secretary Scott Bessent made the remark during an interview with CNBC, which was published on Wednesday.

Bessent said that the South Korean parliament has not passed the trade deal, so "there is no trade deal until they ratify it."

Bessent appeared to refer to South Korea's Special Act on the Management of Strategic Investment between South Korea and the United States, legislation required to implement Seoul’s U.S. investments pledged under the two nations' bilateral trade agreement, which is currently undergoing parliamentary approval.

Asked if South Korea will face 25 percent tariffs until the National Assembly ratifies it, Bessent said that it's "helpful to get things moved along."

On Truth Social on Monday, Trump said that because South Korea was not living up to its agreement with the United States, he would raise tariffs on all goods from South Korea from 15 percent to 25 percent.