SEOUL, September 26 (AJP) - U.S. President Donald Trump on Thursday ramped up his demand that South Korea fulfill its $350 billion investment pledge to Washington in full and upfront.
After signing an executive order related to TikTok at the White House, Trump mentioned that the U.S. would receive $550 billion from Japan and $350 billion from South Korea, adding that the payments should be made "upfront."
He then went on to boast that his sweeping tariff policy is bringing "tremendous" amounts of money to the U.S.
Trump's comments came amid tariff-related negotiations between Seoul and Washington, which have been in a deadlock over the details of the massive investment plans that the two countries agreed to in late July as part of a broader trade deal to lower reciprocal tariffs from 25 percent to 15 percent.
In a meeting with U.S. Treasury Secretary Scott Bessent in New York the previous day, Lee, who had earlier warned that a lump-sum cash payment without protective measures such as currency swap deals could lead to a repeat of the 1997 Asian financial meltdown, stressed that the ongoing trade talks should be "in line with the interests of both countries."
Meanwhile, the Wall Street Journal reported that the U.S.' trade deal with South Korea has "gotten messier," with U.S. Secretary of Commerce Howard Lutnick raising the "idea of slightly increasing the $350 billion" so that the "final tally could get a bit closer to the $550 billion pledged by Japan."
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