Lee Myung-bak, the South Korean president, yesterday assured Barack Obama, his US counterpart, that Seoul was willing to “talk again” about cars, the sticking point in what promises to be the biggest US trade deal in more than a decade.

Speaking at a joint news conference, Mr Lee stopped well short of saying the bilateral deal, which was signed two years ago but has not been ratified by either country's legislature, could be renegotiated as US congressmen demand. However, his words appeared to soften Seoul's previous position that the agreement could only go forward as written.

“President Obama and I reconfirmed the economic and strategic importance of the Korea-US free trade agreement and decided to make an effort to move it forward,” Mr Lee said. “If the auto issue becomes a problem, we are prepared to talk again.”