Trump mulls pulling out of free trade deal with South Korea


"On the other hand, "The Korean government will respond calmly and dignifiedly" regarding foreign news that the US President Trump set directions of the debate on the abolishment of the Korea-US Free Trade Agreement", said the Korean Ministry of Trade, Industry and Energy (MOTIE) on September 3.

The report published on Saturday reveals President Trump has asked advisers to prepare to leave the deal, and will likely begin the formal process as early as next week. -South Korea free-trade agreement with his advisers following a newspaper report that he's considering terminating the pact.

The National Cattlemen's Beef Association also sent an appeal to its members Saturday to speak out in support of the agreement, which was first negotiated during the George W. Bush administration, with a renegotiated deal under President Barack Obama implemented in 2012.

The administration has been in talks to make adjustments to the trade agreement known as KORUS.

The meeting between Lighthizer and South Korean Trade Minister Kim Hyun-jong appears to have gone badly, the Chamber memo said. The Post said that many top White House officials such as national security adviser H.R. McMaster, Defense Secretary Jim Mattis and National Economic Council director Gary Cohn oppose the plan, and are pushing Trump to abandon the idea.

South Korea is the US' sixth-largest trading partner, while the US is South Korea's second-largest trading partner after China. Trump's plan to withdraw from South Korea trade deal could stoke tensions between the United States and South Korea at a time when the two countries are coordinating efforts to confront North Korea over its missile programme.

"The president and Nebraska have a basic disagreement about trade", Sasse said in a statement posted to Twitter.

Abe, Trump vow to "make N. Korea change its policies"
The United States has repeatedly urged China, the North's sole major ally, to do more to rein in its neighbor. North Korea "has ignored the worldwide community's widespread opposition, again carrying out a nuclear test".

"KORUS has been the economic cornerstone of a strong US-Korea alliance".

Withdrawing from the deal could lead to a large increase on tariffs levied against products the USA imports from South Korea, such as electronics, cell phones, and automobiles.

"One of the big reasons we made a decision to go forward with the agreement was to demonstrate to the South Koreans, North Koreans and Chinese that the USA was committed to this relationship for the long haul", Mr Green said.

"It's been a rough deal for the United States, but I think that it will be much different and it will be good for both parties", Mr. Trump said at the time. "USTR has long pressed the Korean government to address burdensome regulations which often exclude US firms or artificially set prices for American intellectual property". The dialogue comes amid rising tensions with North Korea over Pyongyang's missile tests.

Beyond going against the wishes of many in the private sector, starting a full-scale renegotiation would overburden the comparatively small government agency, where negotiators are already spending every weekend through December meeting to work on the ongoing NAFTA renegotiation, the source said.

He added that particularly because of Mexico he might have to end up terminating the deal.