Trump hints at US withdrawal from free trade deal with South Korea
Trade deal was secured by Trump’s predecessor Barack Obama
US President Donald Trump said he would discuss the fate of a five-year-old US-South Korean free trade deal with his advisers this week in a move that could see him pull out of the accord with a key American ally at a time of heightened tensions on the Korean peninsula.
Trump made his remarks to reporters while visiting hurricane-hit Houston a day after he spoke with South Korean President Moon Jae-in and struck a deal allowing Seoul access to longer-range missiles as well as a potential arms sale.
The US-Korea Free Trade Agreement (KORUS), hammered out by Trump’s Democratic predecessor Barack Obama, has been a frequent target for Trump, who threatened to withdraw from what he called an unequal deal in which Washington runs a goods trade deficit of almost US$28 billion with Seoul.
“It is very much on my mind,” Trump said in Houston when asked if he is talking to advisers and will do something about the pact.
The US Chamber of Commerce said in an email to members that it and other business groups “have received multiple reports” that the Trump administration is prepared to notify South Korea of its intent to withdraw from KORUS on Tuesday, and possibly sooner.
Watch: Trump meets with South Korean president in June
