Industry Minister Kim Jung-kwan pledged all-out efforts on Monday to achieve the best possible outcome from tariff talks with the United States ahead of the August 1 deadline for negotiations with the Donald Trump administration.

Kim, while presiding over an emergency meeting at the Korea Chamber of Commerce and Industry in Seoul, said the government is fully aware of the concerns being raised regarding the tariff negotiations and the uncertainty facing industries.

Talks with the U.S. are at a critical stage, he said, but all possibilities remain open.

Kim stressed that while his ministry is working to ensure negotiations conclude smoothly, it will also come up with effective domestic support measures to ease business uncertainties and help strengthen companies’ mid- to long-term competitiveness.