Trump says trade deal with South Korea 'pretty close' to being finalised

Washington, Oct 25 (IANS) US President Donald Trump has said a trade deal with South Korea is "pretty close to being finalised", noting that he is "ready" if the Asian country is ready for finalising the details of the framework deal struck in July.

Trump made the remarks in a press meeting aboard Air Force One on Friday, as he was en route to Malaysia as part of his Asia trip that will also take him to South Korea and Japan. Seoul and Washington have struggled to bridge differences over how to implement Korea's US$350 billion investment pledge under the July deal.

"It's pretty close to being finalised," he said, according to the White House pool report. "If they have it ready, I'm ready."

In a separate online briefing on Friday, a senior US official said the United States is keen to "nail down" a trade deal with South Korea as soon as Seoul is willing to take "appropriate" commitments.

The two countries reached their trade deal in late July, under which Seoul committed to investing $350 billion in the US, among other pledges, in return for Washington's agreement to lower its "reciprocal" tariff and sector-specific duty on South Korean autos to 15 percent from 25 per cent.

But the deal has yet to take effect amid negotiations to reconcile differences over a series of sticking points, including how to fund the investment package.

In recent weeks, top South Korean officials, including Kim Yong-beom, the presidential chief of staff for policy, Finance Minister Koo Yun-cheol and Industry Minister Kim Jung-kwan, have visited Washington multiple times, underscoring Seoul's stepped-up efforts to finalize the deal.

--IANS

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