US Officials Urge South Korea to Swiftly Conclude Trade Agreement
A senior official from the Donald Trump administration expressed on the 24th (local time) that they hope South Korea will accommodate the United States demands and quickly reach a final agreement in trade negotiations.
According to Yonhap News, during a telephone briefing related to President Trumps upcoming visit to Asia, the official responded to a related question by stating, "We are very eager to finalize an agreement with South Korea as soon as possible."
The official further added, "We want South Korea to accept the conditions we deem appropriate as quickly as possible."
The two nations have been struggling to find common ground on the structure and implementation of South Koreas $350 billion investment package in the US, which was agreed upon in July. The United States has demanded that South Korea pay $350 billion in cash, but South Korea has countered that this amount exceeds 80% of its foreign reserves, raising concerns over a potential foreign exchange crisis.
As a result, it remains uncertain whether a trade agreement will be announced at the upcoming Korea-US summit scheduled for the 29th.
However, the US official reaffirmed that President Trump wants to collaborate with South Korea to rebuild the American shipbuilding industry.
According to Yonhap News, during a telephone briefing related to President Trumps upcoming visit to Asia, the official responded to a related question by stating, "We are very eager to finalize an agreement with South Korea as soon as possible."
The official further added, "We want South Korea to accept the conditions we deem appropriate as quickly as possible."
The two nations have been struggling to find common ground on the structure and implementation of South Koreas $350 billion investment package in the US, which was agreed upon in July. The United States has demanded that South Korea pay $350 billion in cash, but South Korea has countered that this amount exceeds 80% of its foreign reserves, raising concerns over a potential foreign exchange crisis.
As a result, it remains uncertain whether a trade agreement will be announced at the upcoming Korea-US summit scheduled for the 29th.
However, the US official reaffirmed that President Trump wants to collaborate with South Korea to rebuild the American shipbuilding industry.
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