South Korea Wants Step by Step Approach to KORUS

Taylor HillmanIndustry News Release

Trade leaders from South Korea are asking for a step by step approach to the U.S.-Korea Free Trade Agreement. Following last week’s discussion on terminating the agreement by President Donald Trump, Korea says: “Let’s go step by step, rather than just jumping the gun.”

ustr korusIt is possible Trump could seek to renegotiate the trade deal, like his move regarding the North American Free Trade Agreement, but the administration would have to notify Congress before doing so. Cabinet members, including Agriculture Secretary Sonny Perdue, briefed the White House last week on the implications of withdrawing from the agreement. Further, former House Speaker John Boehner said withdrawing from the agreement would “do more harm than good.” Boehner helped ratify the agreement in 2011, and told Politico that “we must renew and strengthen our relationships in the Pacific region, not just with South Korea, but with China,” instead of withdrawing from trade deals.

From the National Association of Farm Broadcasting News Service.