Trump Will Discuss South Korea Trade Deal With Senior Advisers

Randolph Lopez
September 4, 2017

Since his inauguration, President Trump has been expressing discontent over the five-year-old FTA, calling it a "horrible" deal that has resulted in a large trade deficit for America.

BEIJING — China says President Donald Trump's threat to cut off trade with countries that deal with North Korea is unacceptable and unfair.

The U.S. -Korea Free Trade Agreement was hammered out by Democrat Barack Obama and has been a frequent target for Trump, who calls it an unequal deal that gives South Korea a almost $28-billion dollar trade surplus.

It remains to be seen if North Korea's latest nuclear test yesterday would change the President's calculus, given the importance of Seoul as Washington's partner in dealing with Pyongyang. "It's very much on my mind", he replied. The Washington Post reported earlier that any withdrawal was opposed by his national security adviser H.R. McMaster, Defense Secretary Jim Mattis and National Economic Council Director Gary Cohn.

As Trump considers giving notice to South Korea of US withdrawal from the pact, he faces a potential divide among his advisers. North Korea sharply raised regional tension this week with the launch of its Hwasong-12 intermediate-range ballistic missile, which flew over Japan and landed in the Pacific.

The US Chamber of Commerce said that it and other business...

Patriots trade QB Jacoby Brissett for Colts WR Phillip Dorsett
The Patriots selected Brissett with the 91st overall pick in the third round of the 2016 draft out of North Carolina State. Dorsett, 23, was originally drafted by the Indianapolis Colts in the first round (29th overall) of the 2015 NFL Draft.

Tottenham close to completing loan deal for Barcelona star Andre Gomes
Barcelona midfielder Andre Gomes is now on his way to Tottenham as rivals West Ham believe they have lost the Portugal global . Still, unless we hear conflicting reports from some other source, we should maybe consider this transfer on the shelf for now.

Payrolls Increased, Unemployment Held Steady in August
The jobs report, which is released by the Labor Department's Bureau of Labor Statistics, comes from two separate surveys. As for what all those workers are getting paid - wages remain in a "hold" pattern, with barely a gain seen all year.

Trump's administration had begun talks with South Korea to revise a trade deal signed in 2012 by the Obama administration, but they failed to agree on a way forward after joint meetings in August.

The two sides held a one-day videoconference two weeks ago about possible revisions to the agreement but ended without a decision on the next steps for possible revisions.

Alabama exports millions of dollars in goods to, and imports millions worth of good from, South Korea...primarily because the only Hyundai plant in the in Montgomery.

Pulling out of the South Korean free trade deal would mark the latest step taken by Trump to abandon the type of worldwide trade agreement that had exemplified world economics for decades.

He pulled the U.S. out of the Trans-Pacific Partnership agreement during his first week in office and his administration is now in talks to rewrite the 23-year-old North American FTA.

South Korea is the US' sixth-largest trading partner, while the US is South Korea's second-largest trading partner after China.

Other reports by GlobalViralNews

Discuss This Article