Kim Yong-beom, President Lee Jae Myung’s chief of staff, said South Korea had reached “an agreement on the details” in tariff negotiations with the United States. With the accord, Kim said, U.S. tariffs on South Korean exports would be 15 percent. South Korea has been contending with a rate of 25 percent that took effect in August.

SEOUL, South Korea (AP) — North Korea said Wednesday it fired sea-to-surface cruise missiles into its western waters, in another display of its growing military capabilities as U.S. President Donald Trump travels to South Korea for a regional summit.

State media said the sea-to-surface cruise missiles fired Tuesday flew for more than two hours before accurately striking targets in its western waters.

The deal's structure is similar to the one that Japan and the U.S. struck in September, but South Korea managed to secure more safeguards to cushion any potential shock to the domestic foreign currency market, for example the $20 billion annual limit, Kim said.

President Trump was given a massive gold crown Wednesday by South Korean President Lee Jae Myung, who proclaimed a new "golden age" of the nations' alliance.

Following are some of the details released by South Korea's chief policy advisor Kim Yong-beom, shortly after U.S. President Donald Trump said the two nations had reached a trade deal. Washington has not confirmed the details of the agreement.

The White House and South Korean government continue to haggle over the details of Seoul's $350 billion investment commitment.