Washington: U.S. President Donald Trump has announced that a trade deal with South Korea is "pretty close to being finalized." He emphasized his readiness to move forward with the agreement if South Korea is prepared to finalize the details of the framework deal initially agreed upon in July.
According to Yonhap News Agency, Trump made these remarks during a press briefing aboard Air Force One as he traveled to Malaysia, part of his Asia tour that includes stops in South Korea and Japan. The two nations have been negotiating to resolve differences regarding South Korea's commitment to a $350 billion investment in the United States, a key component of the July deal.
"It's pretty close to being finalized," Trump stated, as reported by the White House pool. "If they have it ready, I'm ready."
In a separate online briefing, a senior U.S. official expressed America's eagerness to finalize the trade deal with South Korea as soon as Seoul is ready to make "appropriate" commitments. The July agreement included Seoul's promise to invest in the U.S., while Washington agreed to reduce its "reciprocal" tariff on South Korean automobiles from 25 percent to 15 percent.
The deal is still pending as both countries work through remaining issues, such as funding for the investment package. Recently, high-level South Korean officials, including Kim Yong-beom, the presidential chief of staff for policy, Finance Minister Koo Yun-cheol, and Industry Minister Kim Jung-kwan, have traveled to Washington frequently, highlighting Seoul's intensified efforts to finalize the agreement.