President Donald Trump said the United States and South Korea have "a deal done" after a meeting with President Lee Jae-myung in the Oval Office on 25 August. Trump told reporters the two sides "stuck to our guns" and that Seoul would "make the deal they agreed to," describing it as the largest trade accord South Korea has ever concluded. The announcement appears to settle outstanding issues that followed a framework agreement unveiled on 30 July. Under that pact, South Korea committed to create a $350 billion fund for U.S.–controlled investments, including $150 billion dedicated to reviving American shipbuilding, and to purchase about $100 billion of U.S. liquefied natural gas and other energy products over the next three and a half years. In exchange, the United States will hold tariffs on most South Korean goods at 15%, averting the 25% levy that had been threatened earlier this year. Steel, aluminum and copper duties remain unchanged. Seoul also resisted additional openings of its rice and beef markets, according to South Korean officials. The finalized accord aims to give exporters on both sides greater certainty after months of escalating trade pressure from Washington.