South Korea's top trade negotiators met with U.S. Commerce Secretary Howard Lutnick, with both sides reaffirming their intention to reach a tariff deal.

A deal had been in the works this spring that would spin off TikTok's U.S. operations into a new U.S.-based firm, majority-owned and operated by U.S. investors. This stalled after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods.