WSJ: Trump says U.S.-South Korea trade deal is 'nearly complete'

In recent days, South Korean officials have downplayed the possibility that tariff negotiations are nearing conclusion. Other U.S. trading partners are closely watching this negotiation as a bellwether for the direction of their own yet-to-be-concluded talks. Some Trump administration officials have also expressed private skepticism. This apparent breakthrough occurred during Trump’s meeting with South Korean President Lee Chang-min on Wednesday. The two held a roughly 90-minute exchange on the sidelines of a regional economic forum in Gyeongju. Afterward, Lee presented Trump with a golden crown and conferred upon him South Korea’s highest national honor. In brief remarks following the meeting, Trump called the talks “excellent.” “I think the meeting was very determined,” Trump said, “and we reached an agreement—basically, the trade deal is completed.” Trump’s statement was subsequently confirmed by two senior South Korean officials at a government press briefing. South Korea—home to corporate giants such as Samsung, Hyundai, and LG—possesses formidable strength in technology, automobiles, and biopharmaceuticals. Yet its economy is significantly smaller than those of China, Japan, and the United Kingdom, all of which are engaged in separate negotiations with the Trump administration—making South Korea comparatively more vulnerable. This agreement would give Trump added momentum during his first Asian trip of his second term—coming shortly after he announced trade deals with several Southeast Asian nations. Earlier this week, during his visit to Japan, the U.S. and Japan unveiled a list of proposed investment projects—including power generation facilities and battery plants—with the governments estimating their total value at approximately $49 billion; however, no formal investments have materialized yet. The White House has offered no further comment beyond Trump’s statement. As early as late July, the U.S. and South Korea had reached consensus on the framework of a tariff agreement: the U.S. would reduce tariffs on most goods—including automobiles—from 25% to 15%; in exchange, South Korea pledged to invest $350 billion in the U.S. and purchase an additional $100 billion worth of U.S. energy products. However, the implementation method and timeline for the $350 billion investment became the biggest point of contention.

After Lee Chang-min raised the white flag to the U.S., among the world’s top ten economies, only four countries remain uncompromised toward America

Many readers may not realize that the global trade war and tariff campaign launched by the Trump administration—while ostensibly driven by economic and trade objectives—also carries significant geopolitical and diplomatic considerations. The Trump administration may be attempting to force countries worldwide to ‘choose sides’ by using tariff-based coercion, compelling them to join America’s economic ‘camp.’ In this context, South Korea has become the latest ‘victim’ of Trump’s tariff bullying. On July 30—just one or two days before Trump’s August 1 deadline for triggering new tariffs—a major announcement ignited global public opinion: the U.S. president declared that an agreement had been reached with South Korea, under which tariffs on South Korean goods would be uniformly set at 15%, substantially lower than the originally planned 25%. The announcement explicitly stated that South Korea would invest $350 billion in the U.S. and purchase over $100 billion worth of U.S. energy products—including liquefied natural gas and petroleum—within the next three to four years. Simultaneously, South Korea would fully open its market to U.S.-made automobiles, agricultural products, and other categories of goods, without restrictions. Trump hailed this arrangement as a “comprehensive agreement,” and it spread widely online within hours of its announcement. Clearly, this agreement amounts to a 21st-century “unequal treaty” for South Korea: while South Korean exports to the U.S. remain subject to substantial tariffs, American goods gain unfettered access to South Korea’s 50-million-person domestic market—effectively handing over the entire Korean market to the United States. Moreover, South Korea must ‘pay tribute’ to the U.S. by purchasing massive volumes of American products, essentially transferring the fruits of fifty million Koreans’ hard labor back to Americans. Furthermore, according to South Korean media reports, under pressure and directives from the South Korean government, several major Korean firms—including Samsung and LG—signed massive cooperation agreements just prior to the deal’s signing: Samsung inked a $16.5 billion chip supply agreement with Tesla, and LG Energy Solution signed a $4.3 billion battery supply contract with Tesla. These concrete cooperative deals support the negotiation outcomes and provide practical grounding for the agreement’s secure implementation. It is evident that, with the U.S.-South Korea agreement finalized, South Korea will become economically subservient to the U.S.—and President Lee Chang-min, in effect, has raised the white flag to America. Why did South Korea make such sweeping concessions and compromises at this critical juncture? Analysts suggest two possible reasons. First, South Korea may have been influenced and pressured by the precedents set by the European Union, Japan, and other countries that have already compromised with the U.S.

Trump Says US-South Korea Deal Includes $8.4 Billion for Oil Recovery

Oct 2, 2026

President Trump announced an $8.4 billion investment for enhanced oil recovery within a US-South Korea trade deal, including nuclear plants and an Alaska LNG pipeline. Seoul noted these projects require further commercial and legal review before proceeding.

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