FX.co ★ U.S. Eyes Trade Pact with South Korea Within 10 Days

The United States is on the verge of finalizing a trade agreement with South Korea, according to Treasury Secretary Scott Bessent, who stated on Wednesday that an announcement is likely within the next 10 days. "We are about to conclude negotiations with Korea," Bessent mentioned in an interview with CNBC, highlighting that officials are currently "ironing out the details." Discussions between the two nations are occurring this week in Washington, in conjunction with the IMF and World Bank meetings. Bessent also conveyed optimism that the outstanding issues regarding South Korea’s pledged investments will soon be resolved, stating, "I am confident the differences can be settled." When questioned about the potential establishment of a currency swap facility for South Korea, he indicated that this decision would lie with the Federal Reserve, although he expressed surprise that such an arrangement was not already in place.