FX.co ★ Korea, U.S. Set for Summit, Trade Details in Limbo

South Korea and the United States are preparing for an impending summit between President Donald Trump and South Korean leader Lee Jae Myung. However, lingering issues from a recently scaled-back trade agreement suggest potential areas of contention. At the end of July, Seoul and Washington reached a preliminary trade arrangement, agreeing to a 15% tariff. Despite this, significant discrepancies remain regarding defense expenditures, corporate investments, currency management, and non-tariff barriers. Although a definite date has not been established, Trump hinted last week that the summit might take place within the next two weeks. Experts caution that the absence of a formalized agreement could spark disputes, particularly given differing narratives, such as South Korea's denial of U.S. assertions that it would concede 90% of the profits from $350 billion in planned U.S. investments.