TEHRAN (Tasnim) - South Koreas President Lee Jae Myung said Thursday his administration was doing its utmost to secure a trade deal with the United States ahead of President Donald Trumps deadline next week for imposing fresh country specific levies.

Its certainly not easy, that much is clear. And to be honest, I cant say with confidence that well be able to wrap everything up by July 8,Lee said at a press conference marking his first month in office, AFP reported.

Were doing our best, and the goal is to reach a genuinely mutually beneficial outcome, but at this stage, both sides still havent clearly defined what exactly they want,he said, adding: All I can say for now is that were doing our utmost.

Already hit by sector levies on steel and car exports, Seoul is laser-focused on negotiations over a 25 percent country-specific tariff that has been suspended until next week.

Without an agreement, it will come into effect just after midnight Washington time on July 9.

Seouls ministry of industry and trade confirmed this week it is seeking an extension.

With the US tariff suspension deadline fast approaching, the direction of Washingtons future actions remains highly uncertain and volatile, including whether the suspension will be extended,trade minister Yeo Han-koo said Thursday.

Yeo said the reimposition of US tariffs would be a grave situation requiring an all-out, government-wide effort to minimize the negative impact on Asias fourth-largest economy.

Lee assumed office facing a daunting array of challenges, from a deepening economic slump and intensifying global trade tensions to rising alarm over growing military cooperation between nuclear-armed North Korea and Russia.

He inherited a nation deeply fractured by the political crisis triggered by his predecessor, Yoon Suk Yeol, whose attempted imposition of martial law in December sent shockwaves through South Korean democracy.