Two of the US's biggest trading partners and key allies in Asia are racing to strike a deal with President Donald Trump before the 90-day tariff reprieve ends. Treasury Secretary Scott Bessent says Washington and Seoul may reach an "agreement of understanding" as soon as next week. Sources tell Bloomberg that Tokyo will resist efforts to form a trade bloc against China as it hopes to strike a deal with the US before the G-7 summit in June. Bloomberg's Jon Herskovitz reports.