South Korea and the U.S. could strike a deal on revising their bilateral free trade agreement(FTA) by as early as next week. 

Speaking to reporters at the White House Friday after signing a U.S. funding bill, President Donald Trump said Washington was very close to renewing the free trade deal with South Korea, calling it a “wonderful deal with a wonderful ally.”

Trump said the free trade agreement with South Korea had previously been causing a lot of problems for the U.S. in terms of employment and other issues.

Citing multiple U.S. officials, AFP news said that South Korea-U.S. negotiations on revising their trade deal and bridging differences on U.S. steel and aluminum tariffs will be concluded and ready for announcement next week.

Speaking alongside Trump, Commerce Secretary Wilbur Ross confirmed the U.S. is relatively close to a “pretty comprehensive resolution" with South Korea.

He said the resolution will encompass the tariffs and broader trade issues and expressed hope for an announcement sometime next week.