Trump "U.S.-South Korea negotiations very close to being finalised… If South Korea is ready, I'm ready too"

Minseung Kang

Summary

President Donald Trump said the U.S.-South Korea trade agreement is almost in the final coordination stage.
South Korea pledged an $350 billion investment in the United States, and the United States agreed to reduce tariffs on Korean-made cars.
Also, differences remain over funding methods and detailed investment items, so the agreement has not yet come into effect.

U.S. President Donald Trump suggested that a trade agreement with South Korea is "pretty close to being finalised," indicating a final accord could be reached soon.

On the 25th (local time), according to foreign media including the Australian Indian News, President Trump told reporters aboard his private plane (Air Force One) en route to Malaysia that "the U.S.-South Korea trade agreement is pretty much in the final coordination stage" and that "if South Korea is ready, I'm ready as well."

Trump's remarks came as the two countries, after reaching a framework deal in July, continued negotiations over detailed implementation measures. Under that agreement, South Korea pledged an investment plan worth $350 billion in the United States, and the United States agreed to lower tariffs on Korean-made cars from the existing 25% to 15%.

However, the agreement has not yet come into effect because differences remain over funding methods and detailed investment items. A U.S. government official emphasized, "We are willing to 'nail down' the agreement as soon as South Korea is ready to fulfill an appropriate level of commitments."