The United States could soon finalize a trade agreement with South Korea, despite disagreements that have arisen over Seoul’s investment pledges, Treasury Secretary Scott Bessent said Wednesday.
“I think we are about to finish up with Korea,” Bessent said in an interview on CNBC. “The devil is in the details, but we are ironing out the details.”
In a deal framework that the Trump administration reached with the South Korean government in July, South Korea committed to establishing a $350 billion fund for investments in the United States. However, Seoul complained about the terms demanded by Washington, which it said would drive down the value of its currency.
South Korean Finance Minister Koo Yun-cheol said Tuesday that it was “huge progress” that the U.S. was no longer insisting that Seoul make all of the $350 billion investments in the form of direct investment, Reuters reported.
