U.S. eyes quick trade deal with South Korea
Washington seeks to finalize a trade agreement with Seoul once South Korea accepts terms that American officials consider reasonable, a senior administration official said on Tuesday. The statement comes as both nations work to resolve disputes over the implementation of Seoul’s $350 billion investment commitment under their framework agreement. Negotiations continue ahead of President Donald Trump’s state visit to South Korea, scheduled for Wednesday and Thursday.
The two governments signed their trade pact in late July. Under that arrangement, Seoul pledged the massive investment in exchange for Washington reducing its reciprocal tariff and automotive duties on South Korean vehicles to 15 percent from 25 percent. The agreement remains unimplemented as negotiators address multiple unresolved issues, particularly concerning how to structure the investment package funding.
Senior South Korean officials have made repeated trips to Washington in recent weeks to bridge the gaps. The American representative emphasized interest in partnering with South Korea on shipbuilding projects. Officials value South Korean expertise, capital, and cooperation in rebuilding American manufacturing and defense capabilities.
