U.S. President Donald Trump. EPA Washington=Yonhap News.

It appears that the summit between the United States and Russia, which U.S. President Donald Trump had announced would be held in Budapest, Hungary within two weeks, is effectively off the table.

This is due to difficulties in preliminary consultations between the two sides, as they have failed to narrow their differences on ending the war in Ukraine.

When asked by reporters at a Diwali celebration event at the White House on the 21st (local time) whether his meeting with Putin had been canceled, President Trump stated, "I don't want to have pointless meetings. I don't want to waste time."

He added, "So we'll see what happens. I haven't made a decision yet."

The summit between President Trump and President Vladimir Putin was agreed upon during their phone call on the 16th, and President Trump had anticipated the meeting would take place "within two weeks."

President Trump remarked, "You never know what's going to happen. A lot is happening on the front lines between Ukraine and Russia," and "I'll let you know what we're going to do in the next couple of days. A lot is happening."

However, when asked if he saw an opportunity for peace, he said, "Yes. Putin and (Ukrainian President Volodymyr) Zelenskyy want to end it. I think it will end."

The meeting between U.S. Secretary of State Mike Pompeo and Russian Foreign Minister Sergey Lavrov, which was scheduled to discuss the summit's agenda, has also been postponed this week.

A White House official, who requested anonymity, stated that Secretary Pompeo and Foreign Minister Lavrov had spoken and that the call was "productive," but added that "no further face-to-face meeting between the two ministers is necessary," according to reports from The New York Times and AFP.

The official confirmed, "President Trump and President Putin have no plans to meet in the near future."

Citing multiple sources, CNN reported that Secretary Pompeo and Foreign Minister Lavrov, who spoke on the 20th, "had divergent expectations about the possibility of ending the war in Ukraine." It added, "Diplomatic contacts between the two sides have been suspended, at least for now."

Meanwhile, President Trump reiterated his intention to impose an additional 100% tariff on China, the largest importer of Russian oil, effective November 1st, and once again mentioned South Korea's $350 billion investment in the U.S. as an achievement of his tariff policy.

He reiterated that agreements have been reached with South Korea, along with the European Union (EU) and Japan, even though a trade agreement with South Korea has not been finally concluded.

While intense negotiations are ongoing between the two countries regarding the execution method and timeline of South Korea's investment in the U.S., President Trump has consistently taken the position of treating it as a fait accompli.

Yonhap News