white house

White House Suspends Discussions on Ending KORUS

DanIndustry News Release, Trade

white houseWhite House officials have temporarily halted discussions on the possibility of terminating a free trade agreement with South Korea. A senior White House official told Reuters on Wednesday night that the deal could still be terminated but there were no immediate plans to do so. President Trump had been talking with his senior advisers about the possibility of withdrawing from the free trade agreement because of concerns that it’s tilted in favor of South Korea. However, Trump also needs help from South Korea as he tries to end a crisis regarding North Korea’s nuclear and missile programs after a sixth North Korean missile test this week. Reuters says there are Trump advisers urging the president to stick with the deal and avoid straining relations with a key ally in Asia. The U.S.-Korea Free Trade Agreement, known as KORUS, was negotiated by Trump’s predecessor, Barack Obama. KORUS has been a frequent target of Trump’s, noting that America runs a $28 billion trade deficit with South Korea.

From the National Association of Farm Broadcasting News Service.