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Trump and South Korea Finalize $350 Billion Trade Deal

Oct 30, 2025, 2:12 a.m. ET

U.S. President Donald Trump and South Korean President Lee Jae Myung finalized the details of a contentious $350 billion trade deal during a summit in South Korea on Wednesday.

“We made our deal, pretty much finalized it,” Trump said at a dinner with Lee and other regional leaders on the sidelines of an Asia-Pacific forum.

Under the agreement, unveiled in late July, South Korea would avoid the brunt of U.S. tariffs on its imports by committing to $350 billion in new investments in the United States in exchange for lower tariff rates.

Negotiations over the structure of those investments had previously stalled, with both sides tempering expectations during Trump’s visit. “Prospects were not bright even last night, and there was dramatic progress on the day,” South Korea’s top presidential policy chief, Kim Yong-beom, told reporters, without providing further details.

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