South Korea's new President Lee Jae-myung said he and President Donald Trump agreed to quickly work toward a deal on tariffs in their first phone call since Lee's election victory.

South Korea said newly elected President Lee Jae-myung spoke for the first time with Donald Trump and agreed to seek “tangible results” in trade negotiations, after the US leader imposed a 25% tariff on all imports from its Asian ally.

U.S. President Donald Trump and South Korea's new president Lee Jae-myung agreed to work toward a swift tariff deal and shared stories about their experiences in their first phone call since Lee was elected,