Agriculture groups responded to President Donald Trump’s comments regarding a free trade agreement with South Korea over the weekend by urging the President not to withdraw from the accord. Trump said the U.S. would consider withdrawing from the U.S.-Korea Free Trade Agreement, known as KORUS. U.S. Wheat Associates chairman Mike Miller says: “It would be irresponsible to unilaterally walk away from this or any other trade agreement.” Korea was the third largest volume importer of U.S. wheat in marketing year 2016/17. The U.S. Grains Council says walking away from KORUS is a “rash move that will harm relationships” at the expense of U.S. farm country. South Korea is the third largest importer of U.S. corn this marketing year, buying 5.3 million metric tons, more than 200 million bushels. Over the weekend President Trump confirmed reports that he was considering formally notifying South Korea as early as this week.
From the National Association of Farm Broadcasting News Service.