President Donald Trump speaks at the White House in Washington, D.C. on Oct. 15, 2025. AP-YonhapSEOUL, October 16 (AJP) - U.S. President Donald Trump once again claimed on Wednesday that South Korea has agreed to pay US$350 billion "in upfront cash" to fulfill investment pledges as part of a broader trade deal between the two countries. "They've all signed..... Japan, South Korea," Trump told reporters at the White House. "I mean, South Korea -- $350 billion upfront."
Throwing cold water on optimistic expectations for a possible settlement in trade talks, Trump's remarks came just hours after U.S. Treasury Secretary Scott Bessent said he expects "something" to come along the way to finalize the deal.
"We are about to finish up with [South] Korea," Bessent told American business news channel CNBC. "The devil's in the details, but we are ironing out the details." He added, "I'm sure the differences can be resolved. We are in discussions now, and I would expect something in the next 10 days."
Although Seoul agreed with its closest ally in late July to lower reciprocal tariffs from 25 percent to 15 percent in return for massive investments, tariff-related negotiations have remained deadlocked over how to fund them.
Lee Hugh
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