A senior official in the Trump administration said the United States could swiftly finalize trade talks if Korea accepts U.S. demands.
At a telephone briefing on Oct. 24 local time ahead of President Donald Trump's trip to Asia, the senior official was asked whether a trade deal with Korea would be wrapped up during the visit to Korea and said, "We are eager to conclude an agreement with Korea as soon as possible." The official added, "We would like to reach an agreement as quickly as possible, as soon as Korea is willing to accept the terms that we consider appropriate."
The two countries reached a broad trade agreement in July, but have been unable to narrow differences over the makeup and implementation of a $350 billion investment package in the United States. It is uncertain whether the trade deal can be announced at the U.S.-Korea summit on the 29th.
Kim Jung-kwan, Minister of Trade, Industry and Energy and Korea's lead representative in the U.S.-Korea trade talks, said at a National Assembly audit on the 24th that "there is such a discussion" when asked whether a plan was being discussed for Korea to invest $25 billion a year for eight years, totaling $200 billion, in the United States. Minister Kim said that regarding the size of the cash investment in the United States, "The two countries are in intense confrontation over what is an appropriate level."
The senior U.S. official also said that President Trump wants to work with Korea to rebuild the U.S. shipbuilding industry. The official said the United States welcomes general cooperation to help rebuild U.S. manufacturing and the defense industry, shipbuilding, and submarine construction, leveraging Korea's capital and know-how.
The first stop on President Trump's Asia tour is Malaysia. On the 26th, Trump will meet with Prime Minister Anwar Ibrahim and attend a working dinner for U.S.-Association of Southeast Asian Nations (ASEAN) leaders. Trump will also preside over a peace agreement signing ceremony between Thailand and Cambodia in Malaysia.
Trump will then travel to Japan on the 27th to meet new Prime Minister Sanae Takaichi, Emperor Naruhito, and others. He will also meet with chief executive officers (CEOs) of Japanese corporations and plans to visit U.S. military bases.
On the 29th, he will travel to Korea and deliver a speech to business leaders during the visit. A senior U.S. government official said that on the same day Trump will take part in a bilateral program presided over by President Lee Jae-myung and then attend a dinner with key regional leaders. The "bilateral program" mentioned by the official is interpreted as referring to the bilateral summit between the U.S. and Korea.