South Korea's new leader Lee Jae-myung and Donald Trump agreed in a phone call to work toward a tariff deal, Seoul said Friday, as a deadline approaches to avoid punishing US levies. Lee won a thumping victory in South Korea's election this week after months of political turmoil in Asia's fourth-largest economy.

The conversation was confirmed by the Chinese foreign ministry, which said Trump initiated the call. The White House did not immediately comment.

Trump announces US-China trade talks in London next week - The scheduled meeting comes after a ‘positive’ phone call between the US President and Xi Jinping