POHANG, South Korea — As President Donald Trump makes his whirlwind trip through Asia , the warning from the mayor of South Korea ’s steelmaking hub is dire.

“If tariffs keep continuing like this,” Lee Kang-deok told NBC News in an interview Tuesday, “the industry in our city will collapse. And it’s going to have a domino effect.”

South Korea, the world’s 10th-biggest economy, has been trying to finalize a U.S. trade agreement to lower the tariff on its goods to 15%, down from 25%.

Trump said Wednesday that a trade deal had been “pretty much finalized” with South Korea, while South Korean presidential aide Kim Yong-beom said the two governments had “reached an agreement on the detailed terms of the tariff negotiations,” which include a South Korean pledge to invest $350 billion in

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