Trump says US-South Korea trade deal 'pretty much finalized'

US President Donald Trump said Wednesday that an elusive trade deal with South Korea has been "pretty much finalized" during his visit to the East Asian nation.

Trump said "a lot was determined" during his meeting with President Lee Jae Myung, but stopped short of saying the leaders came to terms on a final deal.

"We made our deal, pretty much finalized, a trade deal. And we discussed some other things," Trump told reporters during an Association of Southeast Asian Nations (ASEAN) leaders dinner hosted by Lee. "We discussed some other things having to do with national security, etc. And I think we came to a conclusion on a lot of on a lot of very important items."

Treasury Secretary Scott Bessent threw cold water on the notion that an agreement could be finalized during Trump's visit, saying Monday that while he believed the sides are "close" to reaching an agreement there are "a lot of details to work out, very complicated deal."

Still, Bessent said that an "overall framework" was completed, and it is unclear if that is the trade model Trump was referring to when he addressed reporters.

Trump has been seeking to have South Korea commit to investing $350 billion in the US. Reports have suggested that South Korea instead prefers to offer loans or loan guarantees so as not to significantly impact the country's economy.