South Korea and the US are struggling to finalise the terms of their trade deal, as Seoul resists pressure from Washington to allow Donald Trump to decide where billions of dollars of its capital should be invested in the US.
Seoul’s trade minister Yeo Han-koo is in Washington for talks with US trade representative Jamieson Greer, more than two months after the two sides announced South Korea would make $350bn in American investments in exchange for the US reducing its threatened tariffs from 25 to 15 per cent.
“The devil is in the details. We are in tense negotiations over the details,” Yeo said upon arriving in Washington on Monday.
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