Overview

• President Lee met Treasury Secretary Scott Bessent in New York and urged negotiations to proceed on a commercially rational basis that serves both countries, with teams pushing for progress before the APEC summit.
• Trump described South Korea’s $350 billion pledge as up front, underscoring U.S. pressure for equity-style, front‑loaded commitments that Seoul prefers to structure as guarantees or loans.
• Seoul views a currency swap line as essential to prevent strain on foreign exchange reserves, and officials say Washington is reviewing the proposal.
• Visa uncertainties have become a critical obstacle after ICE detained hundreds of Korean workers at a Georgia battery-plant site, with the prime minister warning projects will be virtually impossible until the issue is resolved.
• Tariff reductions to 15 percent will apply only after a signed agreement, leaving Korean automakers exposed as U.S. duties on Japanese and European cars have already been cut.