President Donald Trump and South Korean President Lee Jae Myung sealed the details of their long-negotiated trade pact Wednesday, a moment years in the making and rich in symbolism.
“We made our deal, pretty much finalized it,” Trump said over dinner with Lee and other regional leaders on the sidelines of an Asia-Pacific forum.
The allies had first unveiled the framework in late July: South Korea would avoid punishing U.S. tariffs by pledging $350 billion in American investments in exchange for lower tariff rates.
But progress had faltered — until this day.
“Prospects were not bright even last night, and there was dramatic progress on the day,” said Kim Yong-beom, South Korea’s top presidential policy chief.
Under the agreement, Seoul can divide its $350 billion commitment — $200 billion in cash paid over time, and $150 billion directed to shipbuilding investments aimed at helping Trump revive the industry. Profits will be shared evenly until the initial investments are recouped, and U.S. Commerce Secretary Howard Lutnick will head an investment committee to review proposals.
The White House offered no immediate comment on the deal, which must still clear South Korea’s parliament.
Then came a scene of pageantry fit for a history book: Trump was presented with a massive gold crown before a dinner featuring “beef patties with ketchup,” a lighthearted nod to his unpretentious tastes.
Trump, who often mocks Democrats for accusing him of “monarchical ambitions,” seemed to relish the irony — the man who loves gold, crowned in it.
President Lee’s gift, a replica of a crown worn by the kings of the ancient Silla kingdom, shimmered under the lights as the two men exchanged pleasantries.
Next comes the meeting with China’s Xi Jinping in Busan — and, as ever, Trump’s confidence remains unshakable.
Watch the clip below:
🚨 BREAKING: President Trump has officially finalized a $350 BILLION trade deal with South Korea
Plus Japan – that's nearly $1 TRILLION on this trip alone!
South Korea gave 47 a golden crown and necklace, the highest-level award in the country's history – and President Trump is… pic.twitter.com/cKxiJdA1cV
— Eric Daugherty (@EricLDaugh) October 29, 2025
