The United States is nearing completion of a trade-related agreement with South Korea, according to President Donald Trump. 

“We made our deal, pretty much finalized a trade deal, and we discussed some other things having to do with national security, etc.,” Trump said at a dinner with South Korea President Lee Jae Myung and other officials Wednesday. 

Neither country has published official documentation of any deal, although multiple reports indicate Wednesday’s purported agreement will solidify certain provisions of a proposed framework from July. As part of the framework pact, the U.S. agreed to lower tariffs on imports from South Korea from 25% to 15%. Trump said at the time South Korea would also invest $350 billion into the U.S.

Wednesday’s meeting between Trump and Lee occurred parallel to this week’s Asia-Pacific Economic Cooperation summit in Seoul this week. Trump is expected to meet with China President Xi Jinping on Thursday during the summit to discuss a potential trade pact. 

Over the weekend, Treasury Secretary Scott Bessent said the U.S. and China had established a “substantial framework” during negotiations in Malaysia, part of a multi-country tour for Trump and other White House officials. However, any agreement requires approval from Trump and Xi.