U.S. President Donald Trump insisted South Korea would deliver billions in investments “upfront,” despite Seoul warning it could face a financial crisis without protective measures.

In July, South Korea pledged $350 billion toward U.S. projects, but has baulked at U.S. demands for control over the funds, and South Korean officials say talks to formalise their trade deal are at a deadlock.

Earlier this month, Trump formalised a trade deal with Japan, lowering tariffs on Japanese automobile imports and other products in return for $550 billion of Japanese investment in U.S. projects, and U.S. officials have pressed Seoul to follow suit.

“We have in Japan it’s $550 billion, South Korea’s $350 billion. That’s upfront,” Trump told reporters on Thursday in the Oval Office as he touted the

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