Praise Trump and speak simply: How the South Korean team negotiated its trade deal, Asia News
Among the advice they received? Call Trump a "great person" and speak as simply as possible, Industry Minister Kim Jung-kwan told reporters in Washington after the deal was announced on Wednesday (July 30).
The stakes were particularly high for South Korea, a major export-driven economy, and Kim and other members of the delegation have only been on the job for a few weeks after President Lee Jae-myung won a snap election in June.
Kim called Trump a "master of negotiations" and said each of the team, which included Finance Minister Koo Yun-cheol and Minister for Trade Yeo Han-koo, took turns role-playing as the US president to prepare.
"We tried to talk like President Trump, and President Trump's way of talking is very terse and straightforward," Kim said. "We prepared a lot of scenarios on our own on how to answer this or that question."
Koo said the team only knew for sure they would be meeting Trump when they saw it on social media.
The meeting itself went for about half an hour and the two sides went back and forth on the amount of the investment fund, which was eventually settled at US$350 billion (S$454 billion), Koo said.
"We collected a lot of negotiation strategies used by our counterparts in advance and thought a lot about how to respond, so the negotiation was very smooth," he said.
Yeo quoted Trump as saying his personal involvement is rare in dealing with officials who are not heads of state, and means "he respects South Korea very much and attaches great importance to South Korea."
Earlier in the talks the US had pressed South Korea to lift restrictions on imports derived from cattle older than 30 months, but Yeo helped defuse that by showing the Americans a photo of massive protests that occurred years ago over concerns about mad cow disease.
"I think it helped them to understand the situation in Korea," Kim said.
[[nid:720806]]
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
an hour ago
- Straits Times
Rwanda, Congo agree on outline for economic integration framework as part of peace deal, US says
WASHINGTON/PARIS - Rwanda and the Democratic Republic of Congo on Friday agreed on an outline for the regional economic integration framework, according to the U.S. State Department, as the two countries take steps toward delivering on a peace deal signed in Washington last month. The tenets agreed on Friday summarize the framework, which includes elements of cooperation on energy, infrastructure, mineral supply chains, national parks and public health. Rwanda and Congo signed a peace deal in Washington in June at talks held by U.S. President Donald Trump's administration, which aims to bring an end to fighting that has killed thousands and attract billions of dollars of Western investment to a region rich in tantalum, gold, cobalt, copper, lithium and other minerals. As part of the deal, Kinshasa and Kigali agreed to launch a regional economic integration framework within 90 days, the agreement said. A source familiar with the matter said a preliminary draft of the framework has been agreed to and there would now be an input period to get reaction from the private sector and civil society before it is finalized. The framework is planned to be signed at a meeting of heads of state at the White House. No date has been set yet for that meeting, the source said. In the Friday statement, Rwanda and Congo affirmed that each country has "full, sovereign control" over the exploitation, processing and export of its natural resources and recognized the importance of developing mineral processing and transformation capacity within each country, according to a copy seen by Reuters. Top stories Swipe. Select. Stay informed. World Trump deploys nuclear submarines in row with Russia World 'Optimistic' Bessent says US has makings of a deal with China Asia Asia-Pacific economies welcome new US tariff rates, but concerns over extent of full impact remain Singapore Man in SAF custody after allegedly vaping on bus while in army uniform Asia 'Like me? Approach me directly, okay?': Inside a matchmaking event for China's wealthy Opinion America is tearing down another great public institution Opinion Quiet zones in public spaces can help people recharge in the city Tech Reporting suspected advanced cyber attacks will provide a defence framework: Shanmugam Kinshasa views the plundering of its mineral wealth as a key driver of the conflict between its forces and Rwanda-backed M23 rebels in eastern Congo. Reuters reported in May that Congolese minerals such as tungsten, tantalum and tin, which Kinshasa has long accused neighbouring Rwanda of illegally exploiting, could be exported legitimately to Rwanda for processing under the terms of the deal being negotiated by the U.S., according to sources. The two countries are committed to ensuring that the minerals trade no longer provides funding to armed groups and to create a world-class industrial mining sector in the region, as well as to ensure better cross-border interoperability on mineral supply chains, according to the statement. They also agreed to connect new infrastructure to the U.S.-backed Lobito Corridor, underscoring Washington's aim of greater access to resources in the region and efforts to counter China. The Ruzizi III hydropower project and Lake Kivu methane exploitation were the only specific projects mentioned in the statement, despite U.S. emphasis on critical minerals. The countries said they intended to prioritize financing for Ruzizi and work together to exploit the methane gas sustainably. REUTERS
Straits Times
an hour ago
- Straits Times
While You Were Sleeping: 5 stories you might have missed, Aug 2, 2025
Sign up now: Get ST's newsletters delivered to your inbox US President Donald Trump (left) said he was deploying two nuclear submarines in response to perceived threats from former Russian president Dmitry Medvedev. Trump deploys nuclear submarines in row with Russia US President Donald Trump ordered the deployment of two nuclear submarines on Aug 1 in an extraordinary escalation of what had been an online war of words with a Russian official over Ukraine and tariffs. Mr Trump and Mr Dmitry Medvedev, the deputy chairman of Russia's security council, have been sparring on social media for days. Mr Trump's post on his Truth Social platform abruptly took that spat into the very real – and rarely publicised – sphere of nuclear forces. 'Based on the highly provocative statements,' Mr Trump said he had 'ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that.' READ MORE HERE Switzerland stunned by Trump tariff rate of 39% PHOTO: BLOOMBERG Swiss manufacturers warned on Aug 1 that tens of thousands of jobs were at risk after US President Donald Trump hit them with one of the highest tariff rates in his global trade reset, even if there was some relief for now for the key drugs sector. The government said it was 'disappointed' and would decide how to proceed after Mr Trump set a 39 per cent tariff on the export-reliant country - more than double the 15 per cent rate for most European Union imports into the United States. Top stories Swipe. Select. Stay informed. World 'Optimistic' Bessent says US has makings of a deal with China Asia Asia-Pacific economies welcome new US tariff rates, but concerns over extent of full impact remain Business ST explains: How Trump tariffs could affect Singapore SMEs, jobs and markets Singapore Man in SAF custody after allegedly vaping on bus while in army uniform Asia 'Like me? Approach me directly, okay?': Inside a matchmaking event for China's wealthy Opinion America is tearing down another great public institution Opinion Quiet zones in public spaces can help people recharge in the city Tech Reporting suspected advanced cyber attacks will provide a defence framework: Shanmugam The levy - up from an originally proposed 31 per cent tariff that Swiss officials had described as 'incomprehensible' - is a body blow for the small Alpine nation, which counts the US as the top export market for its pharmaceuticals, watches, machinery and chocolates. READ MORE HERE Trump orders firing of US jobs official amid cracks President Donald Trump said on Aug 1 he has ordered the firing of a key economic official, accusing her of manipulating employment data for political reasons – without giving evidence – after a new report showed cracks in the US jobs market. US job growth missed expectations in July, Labour Department data showed, and revisions to hiring figures in recent months brought them to the weakest levels since the Covid-19 pandemic. Mr Trump lashed out at the department's commissioner of labour statistics – Dr Erika McEntarfer – after the report, writing on social media that the jobs numbers 'were RIGGED in order to make the Republicans, and ME, look bad.' READ MORE HERE Man in SAF custody after allegedly vaping on bus SCREENSHOT: WHATSAPP/ADMINSGFOLLOWS A person who appears to be vaping while dressed in an army uniform has been identified and is now in the custody of the Singapore Armed Forces (SAF). In a media reply, Mindef said it is also looking into an online video, which showed the person allegedly using an e-vaporiser while on board a public bus. The clip began making its rounds on social media on July 31. Mindef added that the possession and use of vapes by its service personnel is 'both a matter of military discipline and an offence under national law'. READ MORE HERE Red Bull reprimanded over Verstappen face towel Formula One stewards reprimanded Red Bull on Aug 1 for a bizarre incident involving Max Verstappen throwing a face towel out of his car and onto the track during Hungarian Grand Prix practice. The four-times world champion was summoned after the second session at the Hungaroring as stewards reviewed the video evidence. 'Shortly after Car 1 was released from its garage, the driver of Car 1 (Verstappen) was observed to have thrown a towel out of the cockpit,' they said in a statement.
Business Times
an hour ago
- Business Times
Oil falls US$2 a barrel on worries about Opec+ supply, US jobs data
[HOUSTON] Oil prices US$2 a barrel on Friday (Aug 1) because of jitters about a possible increase in production by Opec and its allies, while a weaker-than-expected US jobs report fed worries about demand. Brent crude futures settled at US$69.67 a barrel, down US$2.03, or 2.83 per cent. US West Texas Intermediate (WTI) crude finished at US$67.33 a barrel, down US$1.93, or 2.79 per cent. Brent finished the week with a gain of nearly 6 per cent, while WTI rose 6.29 per cent. Three sources familiar with discussions among Opec members and allied producers said that the group may reach an agreement as early as Sunday to boost production by 548,000 barrels per day in September. A fourth source familiar with Opec+ talks said discussions on volume were ongoing and the hike could be smaller. The US Labor Department said that the country added 73,000 jobs in July, lower than economists had forecast, raising the national unemployment rate to 4.2 per cent from 4.1 per cent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'We can blame US President Donald Trump with the tariffs or we can blame the Federal Reserve for not raising interest rates,' said Phil Flynn, senior analyst with Price Futures Group. 'It looks like the Fed misjudged their decision on Wednesday.' On Wednesday, the Fed voted to keep interest rates unchanged, drawing criticism from Trump and a chorus of Republican legislators. Oil traders have focused for much of the week on the potential impact of US tariffs, with tariff rates on US trading partners largely set to take effect from next Friday. Trump signed an executive order on Thursday imposing tariffs ranging from 10 per cent to 41 per cent on US imports from dozens of countries and foreign territories that failed to reach trade deals by his Aug 1 deadline, including Canada, India and Taiwan. Partners that managed to secure trade agreements include the European Union, South Korea, Japan and Great Britain. 'We think the resolution of trade deals to the satisfaction of the market, more or less, barring a few exceptions, has been the key driver for oil price bullishness in recent days,' said Suvro Sarkar at DBS Bank. Prices were also supported this week by Trump's threats to impose 100 per cent secondary tariffs on Russian crude buyers as he seeks to pressure Russia into halting its war in Ukraine. This has stoked concern over potential disruption to oil trade flows and the removal of some oil from the market. On Thursday, JP Morgan analysts said that Trump's threatened penalties on China and India over their purchases of Russian oil potentially put 2.75 million barrels per day (bpd) of Russian seaborne oil exports at risk. China and India are the world's second and third-largest crude consumers, respectively. REUTERS
