South Korea and the U.S. are in discussions over defense cost-sharing, following a significant demand from President Trump for Seoul to increase its financial contribution to the U.S. troop presence in South Korea.

President Donald Trump and his advisers promised a lightning round of global trade negotiations with dozens of countries back in April.

Trump said on Tuesday that South Korea should be paying for its own military protection, suggesting the US ally needed to pay more for the US troop presence there, a day after the tariff announcement.

South Korea's parliament approved a supplementary budget on Friday of 31.8 trillion won ($23.3 billion), supporting President Lee Jae Myung's push to bolster an economy grappling with trade headwinds and tepid consumption.