Trump urges South Korea to accept tariff terms

U.S. President Donald Trump said Oct. 24 he was ready to strike a deal in ongoing tariff talks with South Korea. The remark, made ahead of the Oct. 29 summit, was seen as pressure on Seoul to accept U.S. demands related to a $350 billion investment fund. A senior South Korean official said Oct. 26 that President Lee Jae-myung will not agree to a deal unless he can win public support.

Aboard Air Force One, Trump told reporters the talks were nearly finished when asked about a tariff agreement. A senior U.S. administration official said the United States wants to conclude a deal as soon as South Korea is ready to accept commitments Washington considers appropriate.

Seoul says the outcome depends largely on the U.S. position. With the summit scheduled on the sidelines of the Asia-Pacific Economic Cooperation meeting, differences remain over the fund’s structure, including the share of direct cash investment, decision-making processes, and profit distribution. Seoul insists Washington must show flexibility. A senior South Korean official said the government is working until the last moment and that President Lee wants any agreement to satisfy both countries.

National Security Office Director Wi Sung-lac said in a television interview that the two countries could issue a joint factsheet on tariffs and security. He said wording on security issues is largely agreed, but no common document has been finalized on tariffs. He added that Seoul has requested the same rights as Japan for reprocessing spent nuclear fuel and expanding uranium enrichment, and that Washington has responded positively.


Hoon-Sang Park tigermask@donga.com