US Treasury Secretary Scott Besant said a trade agreement with South Korea is unlikely during President Donald Trump's visit.
This comes after South Korean President Lee Jae-myung said that talks aimed at reducing US import tariffs on South Korean goods remain stalled.
In an interview with Bloomberg, the Korean president explained that the two countries are still stuck on all the key details related to the $350 billion investment pledge.
"The investment method, the investment volume, the timeline, and how to share losses and profits—all of these points are still pending," Lee said.
Last July, Washington agreed to reduce tariffs on South Korean imports to 15% in exchange for Seoul investing approximately $350 billion in the United States
