U.S. President Donald Trump on Tuesday demanded a “free, fair, and reciprocal” trade deal with security ally South Korea, calling their existing agreement “quite unsuccessful and not very good for the United States” on a visit to Seoul.
Trump has slammed the five-year-old US-Korea free trade agreement (FTA), known as KORUS, as a “horrible deal” and a “job killer”.
He has threatened to pull out of KORUS, which could push the South closer into the economic orbit of China, already its biggest trading partner.
Washington has initiated talks to revise the agreement, but they show no sign of progress.
“Currently we are looking at ways of improving our economic relationship,” Trump said after a meeting with his South Korean counterpart Moon Jae-In.
“I feel confident we’ll be able to reach a free, fair and reciprocal trade deal.” Click here to read more.