During his visit to South Korea, President Donald Trump received a gold medal and a replica crown as high-stakes negotiations signaled a possible $350 billion trade deal with the United States.
The talks, held in the historic city of Gyeongju during the Asia-Pacific Economic Cooperation summit, moved forward on Wednesday with discussions on shipbuilding cooperation and tariff reductions on South Korean automobiles, as reported by PBS NewsHour. Though Trump declared the deal "pretty much finalized," no formal agreement has been signed yet.
Behind the ceremonial flair, including a gold-adorned brownie and a band playing "Y.M.C.A." as Trump disembarked Air Force One, lies a gritty push for economic wins. South Korean President Lee Jae Myung rolled out the red carpet, literally and figuratively, while both sides wrestle with the details of this ambitious financial framework.
Lee presented Trump with the Grand Order of Mugunghwa, South Korea's highest honor, marking him as the first U.S. president to receive it. Trump, visibly touched, said, "it's as beautiful as it can possibly be," and even mused about wearing it on the spot.
Adding to the pageantry, a replica crown from the ancient Silla Kingdom was gifted, tying the visit to Gyeongju's storied past. Yet, beneath the pomp, South Korean officials remain cautious about committing $350 billion directly, preferring loans and guarantees to protect their own economic stability.
Trump, often a hardliner on trade, struck a softer tone at a business forum, stating, "the best deals are deals that work for everybody." Such pragmatism is welcome, though one wonders if it will hold when the fine print of profit distribution and investment structures remains unresolved.
South Korea faces a 25% U.S. tariff on automobiles, a burden that puts companies like Hyundai and Kia at a disadvantage compared to Japanese and European rivals. Lee warned at the forum that protectionism risks hollowing out terms like "cooperation" and "inclusive growth," a subtle jab at barriers that could derail mutual benefits.
Meanwhile, tensions linger over a September immigration raid at a Hyundai plant in Georgia, where over 300 South Koreans were detained. Lee has argued that without visa system reforms, future investments might stall, a point that hits home for American workers hoping for job growth from such deals.
Trump responded to the raid issue earlier in the week, saying, "I was opposed to getting them out," and hinted at easing visa rules for skilled workers. It's a small concession, but one that could grease the wheels for Korean companies wary of U.S. policy unpredictability.
Trump's South Korea stop follows visits to Japan and Malaysia, part of a broader Asia trip aimed at securing trade wins amid a prolonged federal government shutdown back home. Unlike Japan, where $490 billion in specific commitments were announced, South Korea's negotiations have moved "a little bit more slowly," according to deputy national security director Oh Hyunjoo.
Thursday brings a pivotal meeting with Chinese leader Xi Jinping, where Trump hinted at lowering tariffs related to fentanyl ingredient flows from China. With North Korea firing cruise missiles into western waters during his visit, Trump shrugged off the provocation, noting such tests are nothing new.
North Korea's refusal to engage unless the U.S. drops denuclearization demands casts a shadow over Trump's earlier hopes of meeting Kim Jong Un. A tight schedule ultimately squashed any extension of his stay, leaving that diplomatic door shut for now.
For all the flattery from Lee, who once suggested a Trump Tower in North Korea during a warm White House meeting, the real test is whether these talks yield tangible gains for American workers. Symbolic honors won't pay the bills or restart shuttered factories, and the sticking points on investment formats remain a hurdle.
Trump's mercurial style, softened by spectacles like choreographed flag displays, must still deliver on his promise to make America great again through trade. If this deal falters, critics of globalist policies will have ample fuel to argue that pageantry can't substitute for hard-nosed outcomes.
In the end, while South Korea's gestures of goodwill are striking, the unsigned agreement and unresolved tensions remind us that true progress demands more than gold medals. Americans watching from home, anxious about jobs and economic security, deserve a deal that prioritizes their interests over ceremonial triumphs.
