The Trump administration is frustrated that South Korea has moved more slowly than expected on a pledged $350 billion investment program in the United States, with negotiations still unresolved, Politico reported on Aug. 17, citing people familiar with the talks. One source described the South Korean side as "the slowest negotiators ever," while multiple sources said wider economic complaints against Seoul also helped drive Trump's order a day earlier to reduce joint Korea-U.S. military exercises. The report said the concerns were seen as reflecting both the pace of promised U.S. investments and the treatment of companies including Coupang. South Korea and the United States signed a trade agreement in July last year covering the investment commitment, and Trump earlier this year warned he could raise tariffs on South Korea to 25% from 15% over delays to a special law tied to U.S. investment, though he did not carry out that threat. The law cleared the National Assembly in March. Industry Minister Kim Jung-kwan and U.S. Commerce Secretary Howard Lutnick met on the 17th to discuss investment issues. Observers in Washington's diplomatic circles say the U.S. has retained more profitable projects domestically while offering South Korea ventures with weaker commercial appeal, which has slowed the unveiling of the first flagship investment project. Victor Cha of CSIS (Washington think tank) said Trump approaches issues transactionally and would likely be satisfied once South Korea announces its first round of investment.