U.S. Treasury Secretary Scott Bessent said the United States and South Korea are unlikely to finalize a trade deal during President Donald Trump’s visit to Gyeongju this week due to the complexity of negotiations.

Speaking to reporters aboard Air Force One while traveling from Malaysia to Japan on Monday, Bessent described the matter as “very complicated” and said many details still need to be worked out.

[Sound bite: U.S. Treasury Secretary Scott Bessent]
Reporter: "Do you expect to finalize that on Wednesday, or will it maybe not quite be done?"
Bessent: "I think not quite, but I think the overall framework is done. We're just getting... the crossing the ‘t’s,’ dotting the ‘i’s.' That's what Ambassador [Jamieson] Greer's team does. And nobody's better at it than they are... "

Trump is scheduled to visit South Korea on Wednesday and Thursday, following stops in Malaysia and Japan.

The president also emphasized the need for cooperation in the shipbuilding sector, raising expectations of further collaboration between the two countries.

Trump said the U.S. plans to expand domestic shipbuilding as more companies invest and build ships in the United States.