President Donald Trump said Wednesday that he had “pretty much” finalized the details of a trade deal with South Korea that is expected to bring hundreds of billions of dollars in investments into the United States.
Trump’s announcement came after he arrived in South Korea to attend the Asia-Pacific Economic Cooperation (APEC) summit. The regional economic forum will be the last stop on Trump’s trade-focused Asia tour before he returns to the United States.
“We had a tremendous meeting today with South Korea,” Trump said. “Pretty much finalized a trade deal, and we discussed some other things having to do with national security, etc. And I think we came to a conclusion on a lot of very important items.”
.@POTUS: “We had a tremendous meeting today with South Korea — with lots determined… We pretty much finalized a trade deal and we discussed some other things having to do with national security.” pic.twitter.com/I3KWsgAhFf
— Rapid Response 47 (@RapidResponse47) October 29, 2025
Under the terms of the agreement, South Korea is expected to invest a total of $350 billion in the United States, including $200 billion in cash and $150 million in shipbuilding. Tariffs on cars will also be slashed from 25% to 15%, according to South Korean officials.
Upon his arrival in South Korea, Trump was given a series of elaborate gifts by officials, including a replica golden crown and a laurel leaf medal.
Later, during a dinner with officials, Trump spoke about the rocky relationship between North and South Korea.
“I won’t forget the trip and we’ll be working together and you have a little bit of a cloud over your country, and we’re going to get that cloud solved. You have a neighbor that hasn’t been as nice as they could be, and I think they will be. I know Kim Jong Un very well, and I think things will work out very well.”
Trump said he was open to meeting Kim during the trip, but the North Korean dictator has so far declined to engage.
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Trump’s meeting with South Korea comes ahead of a much-anticipated Thursday meeting with Chinese President Xi Jinping.
“We’ve been talking a lot over the last month, and I think we’re going to have something that’s going to be very, very satisfactory to China and to us. I think we’re going to have… I think it’s going to be a very good meeting. I look forward to it tomorrow morning,” Trump said.
Trump echoed those remarks on Truth Social, saying his Asia trip would bring back trillions of dollars to the United States and that his meeting with Xi would be “great” for both nations.
Earlier this month, Trump threatened to cancel his planned meeting with Xi after he accused China of taking “very hostile” actions on trade.
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