US EditionUPDATE 2-Bessent Says US Expects to Finalize Trade Deal with South Korea in Next 10 Days
Officials aim to finalize a trade deal reducing Korean vehicle tariffs and securing $350 billion in South Korean investments in the U.S., with an announcement expected soon.
- In Washington, U.S. and South Korean officials are meeting on the sidelines of the IMF and World Bank annual meetings to negotiate a trade deal, with Seoul pledging $350 billion in investments for reduced U.S. tariffs under a preliminary July deal.
- Under domestic pressure, President Lee Jae Myung warned last month that accepting current U.S. demands without safeguards could trigger a crisis, while U.S. negotiators proposed new implementation methods, intensifying scrutiny.
- Bessent said an announcement could come within ten days, while Kim Yong‑beom reported `meaningful progress` on Wednesday amid Washington meetings.
- While optimism persists, negotiators flagged technical hurdles as officials warned that "the devil's in the details" during ongoing talks.
- With Seoul hosting APEC, officials aim to finalise the deal before the end of October, as U.S. President Donald Trump is expected to meet Chinese President Xi Jinping, raising diplomatic stakes.
12 Articles
12 Articles
Korean trade officials express optimism over US tariff deal
Korea's top trade negotiators expressed optimism Thursday about finalizing tariff negotiations with the United States in the near future, saying the talks are showing signs of progress. They made these comments before departing for Washington to attend follow-up negotiations concerning Washington's July agreement to lower its proposed blanket duties on Korean products from 25 percent to 15 percent in exchange for Korea's $350 billion investment …
UPDATE 2-Bessent says US expects to finalize trade deal with South Korea in next 10 days
The U.S. is close to finalizing a trade deal with South Korea, Treasury Secretary Scott Bessent said on Wednesday, telling reporters that he expected an announcement in the next 10 days. Speaking to reporters later on Wednesday, Bessent said he believed disagreements with South Korea over promised investments could be resolved. "I'm sure the differences can be resolved.
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