Trump Says Trade Deal Is “Pretty Much Finalised” With South Korea

US President Donald Trump wrapped up his visit to South Korea on Wednesday with gold, grandeur, and a dash of controversy — claiming he had “pretty much finalised” a trade deal with Seoul, even as the key details of the deal remain unclear.

Meeting South Korean President Lee Jae-myung in the ancient capital of Gyeongju, Trump was greeted with full ceremony — an honour guard, lavish gifts, and South Korea’s highest award, the Grand Order of Mugunghwa "in recognition of his contribution to peace on the Korean Peninsula". President Lee also presented Trump with a golden crown symbolising the “spirit of Silla,” the ancient kingdom that “brought peace to the Korean Peninsula for the first time, and the opening of the golden age of the Korea-US alliance.”

“That is really beautiful,” Trump said, admiring the medal’s red presentation case. “I’d like to wear it right now.” The symbolism wasn’t lost on observers back home, where critics have long accused Trump of behaving like a monarch. Protesters in the US have even marched under banners reading “No Kings.” The irony wasn’t missed as Trump admired his new golden crown.

The two leaders met for lunch and then held nearly two hours of private talks, aiming to break a deadlock over a trade agreement that’s been months in the making. Washington wants South Korea to pump $350 billion into the US economy in exchange for lower tariffs — reduced from 25% to 15%. But Seoul has hesitated over the amount, timing, and structure of those investments.

Despite that, Trump told reporters, “We reached a deal. We did a lot of different things. Great session.” He later added, “We pretty much finalised a trade deal.” President Lee, however, said that “sticking points” still remained, including how and when South Korea’s massive investment package would be implemented.

The pageantry around the visit didn’t mask the tension. Protesters filled the streets of Gyeongju, denouncing Trump’s policies and his influence over South Korea. Police clashed with small anti-Trump groups, while nearby, pro-Trump supporters waved US flags and shouted anti-China slogans — a sign of South Korea’s increasingly strained position between its top security ally and its largest trading partner.

Trump brushed off the protests and used his speech to local business leaders to push his trade agenda. “Economic security is national security,” he said. “That’s for South Korea, that’s for any country.” He also praised Asia-Pacific Economic Cooperation (APEC) countries for helping to “fix a global trading system” that he claimed had been “broken” for years.

Trump’s stop in South Korea follows deals in Japan and Malaysia earlier in the week. He signed a rare earth minerals agreement with Tokyo and helped broker a “peace deal” between Thailand and Cambodia.

On Thursday, Trump heads to Busan to meet Chinese President Xi Jinping on the sidelines of the APEC summit — their first face-to-face since Trump took office. He said he expected to discuss trade and China’s role in tackling the US fentanyl crisis. “I expect to be lowering [tariffs] because I believe that they’re going to help us with the fentanyl situation,” he said.

But as Trump left Gyeongju, the flash of gold and talk of “finalised deals” couldn’t hide the uncertainty that still hangs over his Asia trip — and over whether South Korea’s promised billions will ever materialise.